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EDOC Acquisition Corp. (NASDAQ: ADOCU) announced it has regained compliance with Nasdaq after filing its Annual Report on Form 10-K and Quarterly Report on Form 10-Q for the periods ending December 31, 2020, and March 31, 2021, respectively. The company was previously notified of non-compliance due to late filings resulting from SEC's accounting implications for certain warrants. The matter is now closed according to Nasdaq, enhancing the company's standing for potential business combinations in the healthcare sector.
Edoc Acquisition Corp. (NASDAQ: ADOC) announced it received a notice from Nasdaq regarding non-compliance with Listing Rule 5250(c)(1) due to the late filing of its Annual Report on Form 10-K for 2020. The company is evaluating whether its warrants should be classified as liabilities instead of equity, as per a recent SEC statement affecting SPACs. Edoc has until June 15, 2021, to submit a compliance plan, with a potential extension until October 12, 2021, if accepted. Despite the notice, there is no immediate effect on trading.
Edoc Acquisition Corp. (NASDAQ: ADOCU) announced that starting December 10, 2020, its units will no longer trade as a single entity. Instead, the Class A ordinary shares, rights, and redeemable warrants will be listed separately under the tickers ADOC, ADOCR, and ADOCW on the Nasdaq Capital Market. Each unit consists of a Class A ordinary share, one right, and one redeemable warrant, allowing for special purchase rights. This mandatory separation does not require action from unit holders, but it may lead to the loss of fractional warrants for some shareholders.
Edoc Acquisition Corp. (NASDAQ: ADOCU) has successfully priced its initial public offering, offering 9,000,000 units at $10.00 each. Trading for these units is set to begin on November 10, 2020, on the Nasdaq Capital Market. Each unit comprises one Class A ordinary share, one right, and one redeemable warrant. The offering's net proceeds will be placed into a trust account, amounting to $10.17 per unit. The offering is expected to close on November 13, 2020, pending customary conditions.
Edoc Acquisition Corp. plans to target mergers and acquisitions within the healthcare sector in North America and Asia-Pacific.