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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.
Adit EdTech Acquisition Corp. has successfully closed its upsized initial public offering, raising $240 million by selling 24 million units at $10 each. Each unit consists of one share of common stock and one-half of a warrant, with the latter allowing for stock purchases at $11.50. The offering includes an option for underwriters to purchase an additional 3.6 million units. The company aims to identify and acquire businesses in the education and technology sectors. The shares are listed on NYSE under the symbol ADEX.U.
