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Motion Acquisition Corp. (MOTNU, MOTN, MOTNW) announced that its Form S-4 registration statement for the business combination with DocGo has been declared effective by the SEC. The Annual Meeting for stockholders to vote on the transaction is scheduled for November 2, 2021. Stockholders of record as of September 9, 2021, can participate. The closing of the business combination is contingent upon stockholder approval and other conditions. DocGo specializes in last-mile telehealth and integrated medical mobility services, enhancing patient care through technology.
Motion Acquisition Corp. (NASDAQ: MOTN) has successfully filed its Quarterly Report on Form 10-Q for Q1 2021, resolving its compliance issue with Nasdaq Listing Rule 5250(c)(1). This filing allows the company to regain its compliance status, closing the matter. Motion Acquisition Corp. is a SPAC aimed at merging with target businesses, and it has announced a definitive agreement to combine with Ambulnz, Inc., expected to operate under the DocGo name post-transaction, with a new ticker symbol 'DCGO'.
Motion Acquisition Corp. (NASDAQ: MOTN) announced it received a notification from NASDAQ regarding non-compliance with Listing Rule 5250(c)(1) due to the absence of its Quarterly Report for Q1 2021. The company has until July 26, 2021, to submit a compliance plan, with potential extensions available. The delay is attributed to reevaluation of warrant accounting following SEC guidance. Although the company expects to file the report soon, there are no assurances of regaining compliance, which could impact its NASDAQ listing status.
Motion Acquisition Corp. successfully completed its initial public offering, raising $115 million by selling 11,500,000 units at $10.00 each. The units began trading on Nasdaq under the ticker symbol MOTNU on October 15, 2020. Each unit comprises one share of Class A common stock and one-third of a redeemable warrant, allowing purchase of additional shares at $11.50 each. The company aims to pursue merger opportunities in the connected vehicle sector. Barclays acted as the sole book-running manager for the offering.
Motion Acquisition Corp. has priced its initial public offering (IPO) at $10.00 per unit, issuing 11,500,000 units on the Nasdaq under the ticker symbol MOTNU. Each unit comprises one share of Class A common stock and one-third of a redeemable warrant, with the entire warrant priced at $11.50 for purchasing a share. The funds raised will support potential mergers or acquisitions, focusing on the connected vehicle industry. The offering is anticipated to close on October 19, 2020.
