Isos Acquisition Corporation Announces Receipt of Notice from the New York Stock Exchange Regarding Late Filing of Quarterly Report on Form 10-Q
Isos Acquisition Corporation (NYSE: ISOS.U) has received a notice from NYSE Regulation due to its failure to timely file its Quarterly Report on Form 10-Q for the quarter ending March 31, 2021. The company stated it needed more time to assess the accounting treatment of its outstanding warrants. Following an extension, Isos successfully filed the Form 10-Q on June 1, 2021, believing it is now compliant with NYSE listing requirements. The company focuses on mergers and acquisitions in the media and entertainment sectors.
- Successfully filed Form 10-Q on June 1, 2021, potentially ensuring compliance with NYSE listing requirements.
- Received a notice from NYSE for failing to file Form 10-Q on time, indicating a compliance risk.
New York, NY, June 01, 2021 (GLOBE NEWSWIRE) -- Isos Acquisition Corporation (NYSE: ISOS.U) (the “Company”) today announced that it has received a notice (“Notice”) from the NYSE Regulation staff of the New York Stock Exchange (the “NYSE”) as a result of its failure to file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 (the “Form 10-Q”) in a timely fashion. The Notice advised the Company that it was not in compliance with the NYSE's continued listing requirements in Section 802.01E of the NYSE Listed Company Manual.
As reported by the Company in its Form 12b-25 filed with the Securities and Exchange Commission (the “SEC”) on May 17, 2021, the Company was unable to file the Form 10-Q within the prescribed time period without unreasonable effort or expense. The extension period provided under Rule 12b-25 expired on May 24, 2021. The Company was unable to meet the filing deadline for the Form 10-Q due to the Company continuing evaluation of the accounting treatment for its outstanding warrants.
The NYSE has informed the Company that, under the NYSE's rules, the Company will have six months from the filing due date (May 24, 2021) to file its Form 10-Q with the SEC. The Company can regain compliance with NYSE listing standards at any time during this six-month period when the Company files its Form 10-Q with the SEC. If the Company fails to file its Form 10-Q within such six-month period, the NYSE may, in its sole discretion, grant an additional six month extension depending on specific circumstances. The NYSE may commence delisting proceedings at any time during the period that is available to complete the filing if it deems that circumstances warrant.
On June 1, 2021, the Company filed its Form 10-Q and believes it is now in compliance with the NYSE’s continued listing requirements.
About Isos Acquisition Corporation.
Isos Acquisition Corporation is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination in any industry, sector, or geographic region, it intends to focus on businesses in the global media and entertainment sectors, as well as adjacencies in this industry, which includes direct-to-consumer businesses, consumer brands undergoing digital transformation, digitally-enabled marketplaces, services, and platforms among areas of focus. The Company is led by Co-Chief Executive Officers George Barrios and Michelle Wilson.
Forward-Looking Statements
This press release may include, and oral statements made from time to time by representatives of the Company may include, “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. 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,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions, as they relate to us or our 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 Securities and Exchange Commission (“SEC”). All subsequent written or oral forward-looking statements attributable to us or persons acting on our 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 registration statement and prospectus for the Company’s initial public offering filed with the SEC. 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:
Jennifer Barry
Isos Capital Management
(203) 263-9312
FAQ
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