Cohn Robbins Holdings Corp. Receives Notice from the NYSE Regarding Immediate Suspension in Trading of Securities and Commencement of Delisting Proceedings
The NYSE has suspended trading in Cohn Robbins Holdings Corp.'s Class A ordinary shares, warrants, and units due to non-compliance with listing standards, specifically failing to maintain a market capitalization of at least $40 million over a 30-day period. The NYSE will initiate delisting proceedings, although the company can appeal the decision. The management is evaluating its options, including pursuing a review.
- None.
- Trading suspended due to non-compliance with NYSE listing standards.
- Failed to maintain an average market capitalization of at least $40 million.
- Delisting proceedings initiated by NYSE.
WILMINGTON, Del., Nov. 14, 2022 (GLOBE NEWSWIRE) -- On November 10, 2022, the New York Stock Exchange (“NYSE”) issued a press release announcing that the staff of NYSE Regulation determined to suspend trading immediately and commence proceedings to delist the Class A ordinary shares, warrants and units (collectively, the “Company Securities”) of Cohn Robbins Holdings Corp. (the “Company”) because the Company is not in compliance with the NYSE’s continued listing standard requiring 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
The Company has the right to a review of NYSE Regulation’s determination by a Committee of the Board of Directors of the NYSE, and the NYSE will apply to the SEC to delist the Company Securities upon completion of all application procedures, including any appeal by the Company of NYSE Regulation’s determination. The Company will consider all of its options, including its option to pursue a review, in responding to the NYSE notification.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “estimate,” “expect,” “intend” and similar expressions, as they relate to the Company or its management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to the Company or persons acting on its behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s prospectus relating to the initial public offering filed with the SEC. Copies of such filings are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contact:
Adam Weiner, Arrowpath Advisors
212-596-7700
contact@arrowpath.com
Source: Cohn Robbins Holdings Corp.
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