Welcome to our dedicated page for Adit EdTech Acquisition news (Ticker: ADEX), a resource for investors and traders seeking the latest updates and insights on Adit EdTech Acquisition stock.
Adit EdTech Acquisition Corp. (ADEX) is a publicly listed special purpose acquisition company (SPAC) incorporated in Delaware. The primary objective of ADEX is to engage in mergers, share exchanges, asset acquisitions, share purchases, reorganizations, or similar business combinations with one or more businesses. The company has a particular interest in the education, training, and edtech sectors, aiming to leverage its financial and managerial expertise to foster growth and create value.
ADEX is sponsored by Adit EdTech Sponsor, LLC, an affiliate of Adit Ventures, LLC. Adit Ventures boasts an investment team with over 150 years of combined experience, demonstrating a robust track record of value creation in public market portfolio companies. This extensive experience positions ADEX as a strategic player in the acquisition market, particularly within its targeted sectors.
Recently, ADEX has announced that it received a notice from the New York Stock Exchange (NYSE) indicating non-compliance with Section 802.01E due to a delay in filing its Quarterly Report on Form 10-Q for the quarter ended March 31, 2021. The company is actively working to resolve the issue by reassessing the accounting treatment of its redeemable warrants following new guidelines issued by the SEC. ADEX is committed to filing the Form 10-Q as soon as practicable to regain compliance with NYSE listing standards.
In another significant development, ADEX has voluntarily decided to delist its common stock, units, and warrants from the NYSE American LLC. This decision follows indications that NYSE American may not approve the listing of the post-closing company. ADEX plans to list its common stock and warrants on exchanges in the U.S. and Canada following its business combination with Griid Holdco LLC. Despite the delisting, ADEX will continue to file periodic reports and other relevant information with the SEC to maintain transparency with investors.
With a clear focus on leveraging its experienced sponsorship and strategic acquisition objectives, Adit EdTech Acquisition Corp. continues to position itself as a key player in the edtech and broader education sectors, aiming to drive growth and deliver long-term value to its shareholders.
Adit EdTech Acquisition Corp. announced it was notified by the NYSE for failing to timely file its Quarterly Report on Form 10-Q for Q1 2021. The NYSE allows a six-month period from May 24, 2021, to regain compliance, with the possibility of up to six additional months if granted. The delay stems from a reevaluation of the accounting treatment for redeemable warrants following an SEC staff statement. The company is actively working to complete the Form 10-Q to comply with NYSE standards.
FAQ
What is the market cap of Adit EdTech Acquisition (ADEX)?
What is Adit EdTech Acquisition Corp. (ADEX)?
Who sponsors Adit EdTech Acquisition Corp.?
Why did ADEX receive a non-compliance notice from NYSE?
What are ADEX's plans following the decision to delist from NYSE American?
Will ADEX continue to file reports with the SEC after delisting?
What sectors does ADEX primarily focus on for acquisitions?
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How is ADEX addressing the delayed filing of Form 10-Q?
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