Prime Impact Acquisition I Announces It Has Regained Compliance with NYSE Listing Requirements

Rhea-AI Summary

Prime Impact Acquisition I (NYSE: PIAI) has regained compliance with the NYSE Listed Company Manual after filing its Quarterly Report on Form 10-Q for Q1 2021 on May 28, 2021. Prior to this, on May 25, 2021, the Company received a notice from the NYSE for non-compliance due to a delay in filing. Prime Impact Acquisition I is a blank check company, focused on mergers and acquisitions within the TMT, Med Tech, and Industrial Tech sectors.

Positive

• None.

Negative

• Delayed filing of Form 10-Q resulted in a notice of non-compliance from the NYSE.

Prime Impact Acquisition I (NYSE: PIAI, the “Company”) announced today that it has regained compliance with Section 802.01E of the New York Stock Exchange (“NYSE”) Listed Company Manual (the “Rule”) after filing its Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 (the “Form 10-Q”) with the Securities and Exchange Commission (the “SEC”) on May 28, 2021.

On May 25, 2021, the Company received a notice from the NYSE indicating that the Company was not in compliance with Section 802.01E of the NYSE Listed Company Manual as a result of its failure to timely file the Form 10-Q with the SEC as required by the Rule.

About Prime Impact Acquisition I

Prime Impact Acquisition I 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. Prime Impact Acquisition I's anticipates targeting companies or divisions of companies, globally in the TMT, Med Tech and Industrial Tech sectors.

Forward Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s search for an initial business combination. 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 for the Company’s initial public offering filed with the SEC. Copies 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210528005488/en/

FAQ

What was announced by Prime Impact Acquisition I on May 28, 2021?

The Company announced it regained compliance with the NYSE after filing its Form 10-Q for Q1 2021.

Why did Prime Impact Acquisition I receive a notice from the NYSE?

The notice was due to the Company's failure to timely file its Form 10-Q.

What sectors does Prime Impact Acquisition I focus on for potential acquisitions?

The Company focuses on TMT, Med Tech, and Industrial Tech sectors.

What does being a blank check company mean for Prime Impact Acquisition I?

It means the Company is formed to pursue mergers or acquisitions without a specific target at inception.

How does the non-compliance notice affect Prime Impact Acquisition I shareholders?

The notice indicates regulatory scrutiny, which may impact investor confidence.