Tailwind International Acquisition Corp. filed SEC Form 8-K: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing, Leadership Update
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Date of Report (Date of earliest event
reported): April 4, 2023 (
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Item 3.01 Notice
of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On April 3, 2023, the New York Stock Exchange (the “NYSE”) notified Tailwind International Acquisition Corp., a Cayman Islands exempted company (the “Company”), and publicly announced, that NYSE had determined to commence proceedings to delist from NYSE (i) the Company’s units, each consisting of one Class A ordinary share and one-third of one redeemable warrant, that are listed to trade on NYSE under the symbol “TWNI.U” (the “Units”) and (ii) the Company’s Class A ordinary shares, par value $0.00001 per share, that are listed to trade on NYSE under the symbol “TWNI” (the “Ordinary Shares”). Trading in the Units and Ordinary Shares was suspended immediately. NYSE determined to delist the Units and Ordinary Shares due to the Company’s inability to meet the requirements of Section 802.01B of the NYSE’s Listed Company Manual that requires a listed acquisition company to maintain an average aggregate global market capitalization attributable to its publicly held shares over a consecutive 30 trading day period of at least $40,000,000. The Company does not intend to appeal the NYSE’s determination.
The Company is currently evaluating possible alternatives in light of this including the possibility of liquidating the trust account and winding down the Company.
The foregoing actions and their consequences could affect the liquidity and value of the Company’s securities. The Units and Ordinary Shares may be traded on the over-the-counter markets, or any other available market.
Item 5.02 Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 31, 2023, Nathalie Gaveau voluntarily resigned, effective immediately, as the President and Director of the Company. Ms. Gaveau resigned in order to pursue other opportunities and not due to any disagreement with the Company on any matter relating to its operations, policies or practices.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: April 4, 2023
| Tailwind International Acquisition Corp. | ||
| By: | /s/ Philip Krim | |
| Name: | Philip Krim | |
| Title: | Chief Executive Officer and Chief Financial Officer | |