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Progress Acquisition Corp. (Nasdaq: PGRW) announced it received a notice from Nasdaq stating it failed to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2022. The notice allows the Company 60 days, until June 20, 2023, to submit a compliance plan. If accepted, Nasdaq may grant an additional 180 days, up until October 18, 2023, for compliance. The notice does not affect the current listing status of the Company's Class A common stock, warrants, or units on the Nasdaq Capital Market. Progress Acquisition Corp. is a blank check company aiming to pursue mergers and acquisitions, focusing on media, entertainment, and technology sectors.
Progress Acquisition Corp. (Nasdaq: PGRW) has announced the cancellation of its special meeting of stockholders that was originally set for April 26, 2023. This decision reflects the company's ongoing strategy as a blank check entity, focused on potential mergers and acquisitions within sectors such as media, entertainment, and technology. The firm aims to identify appealing targets in the digital ecosystem to drive future growth.
The announcement also includes forward-looking statements regarding possible business combinations and related financing, emphasizing that actual results may differ from projected outcomes due to various uncertainties beyond the company's control.
Progress Acquisition Corp. (NASDAQ: PGRWU) announced on December 6, 2022, that it received a notice from Nasdaq regarding non-compliance with Listing Rule 5250(c)(1) due to a late filing of its 10-Q for the period ended September 30, 2022. However, following the filing on November 22, 2022, the company has regained compliance, and Nasdaq considers the matter closed. Progress Acquisition Corp. is focused on potential mergers and acquisitions within the media, entertainment, and technology sectors.
Progress Acquisition Corp. has mailed a definitive proxy statement on October 12, 2022, for a special meeting on October 27, 2022. The purpose is to approve an extension for completing an initial business combination to May 8, 2023. If approved, the Sponsor will contribute up to $300,000 in loans to support the extension. Each loan will not bear interest and is repayable upon completion of the acquisition. Should the extension not be approved, the Company will liquidate. Stockholders can vote online or by mail, and the proposal highlights the need for timely participation.
