Fusion Acquisition Corp. II Receives NYSE Notice Regarding Delayed Form 10-K Filing

Rhea-AI Summary

Fusion Acquisition Corp. II (NYSE: FSNB) announced that it received a notice from the NYSE regarding non-compliance with Section 802.01E, due to the late filing of its Annual Report on Form 10-K for 2022. The NYSE's notice does not immediately affect the listing of FSNB's securities. The Company is given until October 17, 2023, to regain compliance by submitting the overdue report. This delay was previously communicated in its Form 12b-25 filed on March 31, 2023, which indicated a need for more time to finalize financial statements. FSNB is actively working on completing the filing and aims to submit the 10-K as soon as possible.

Positive

• The Company has until October 17, 2023, to regain compliance with NYSE's listing requirements.
• FSNB is actively working to finalize and file the overdue 2022 Form 10-K.

Negative

• The late filing of the 2022 Form 10-K suggests potential internal issues or delays in financial reporting.
• Non-compliance with NYSE regulations may affect investor confidence and stock performance.

NEW YORK, April 24, 2023 (GLOBE NEWSWIRE) -- Fusion Acquisition Corp. II (NYSE: FSNB) (the “Company”) today announced that it received a notice from the New York Stock Exchange (the “NYSE”) indicating that the Company is not in compliance with Section 802.01E of the NYSE Listed Company Manual as a result of its failure to timely file its Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 Form 10-K”) with the Securities and Exchange Commission (the “SEC”). The notice has no immediate effect on the listing of the Company’s securities on the NYSE.

The NYSE informed the Company that, under the NYSE’s rules, the Company can regain compliance with the NYSE’s continued listing requirements by filing the 2022 Form 10-K with the SEC at any time prior to October 17, 2023.

As the Company reported in its Form 12b-25 filed with the SEC on March 31, 2023, the Company requires additional time to finalize its financial statements.

The Company is working diligently to complete the 2022 Form 10-K and expects to file such report as soon as practicable.

Cautionary Note Concerning Forward-Looking Statements

This press release contains certain forward-looking statements, including without limitation the Company’s current expectations and intentions with respect to the filing of its 2022 Form 10-K. These forward-looking statements, which are included in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, may involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this press release. Although the Company believes such forward-looking statements are based upon reasonable assumptions, it can give no assurance that actual results will not differ materially from these expectations, including the length of time that may be required for the Company to complete its procedures and file the 2022 Form 10-K, and the Company disclaims any duty to update any forward-looking statements made by the Company. From time to time, these risks, uncertainties and other factors are discussed in the Company's filings with the SEC.

Contact

Cody Slach
Gateway Investor Relations
(949) 574-3860
FUSION@gatewayir.com

FAQ

What is the significance of the NYSE notice received by Fusion Acquisition Corp. II regarding the 2022 Form 10-K?

The NYSE notice indicates that Fusion Acquisition Corp. II is not in compliance with listing requirements due to the late submission of its 2022 Form 10-K.

What deadline does Fusion Acquisition Corp. II have to file its 2022 Form 10-K?

Fusion Acquisition Corp. II must file its 2022 Form 10-K by October 17, 2023, to regain compliance with NYSE listing requirements.

Why did Fusion Acquisition Corp. II delay the filing of its 2022 Form 10-K?

The Company indicated that it required additional time to finalize its financial statements, as mentioned in its Form 12b-25 filed on March 31, 2023.

What impact does the late filing of the 2022 Form 10-K have on FSNB's stock?

The late filing may negatively affect investor confidence and could have an impact on FSNB's stock performance, although the notice has no immediate effect on its NYSE listing.