NEW YORK, Oct. 6, 2022 /PRNewswire/ -- Avanti Acquisition Corp. (NYSE:AVAN) today announced that its board of directors (the "Board") has determined to redeem all of its outstanding Class A ordinary shares (the "Class A Shares"), effective as of October 20, 2022, because the Company will not consummate an initial business combination within the time period required by its amended and restated memorandum and articles of association (the "Articles"). Pursuant to the Articles, if the Company does not consummate an initial business combination by October 6, 2022, the Company will: (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more

Avanti Acquisition Corp. (NYSE:AVAN) (the "Company") today announced that it received a formal notice of non-compliance from the New York Stock Exchange (the "NYSE") relating to the Company's failure to timely file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 (the "Form 10-Q") as required under the timely filing criteria established in Section 802.01E of the NYSE Listed Company Manual. On April 12, 2021, the staff of the Securities and Exchange Commission ("SEC") issued "Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies ("SPACs")" (the "Statement"), which clarified guidance for all SPAC-related

-Reuters

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