Perception Capital Corp. IV Receives Notice of Filing Delinquency from the New York Stock Exchange
Perception Capital Corp. IV (NYSE: RCFA), a special purpose acquisition , has received a notice of filing delinquency from the New York Stock Exchange (NYSE) on August 21, 2024. The company failed to file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, violating Section 802.01E of the NYSE Listed Company Manual. While this non-compliance doesn't immediately affect RCFA's listing, the company must regain compliance to maintain its status. Additionally, RCFA discovered an error in its financial statements for the year ended December 31, 2023, and the quarter ended March 31, 2024. The company plans to file amendments to correct these errors and submit the delayed Q2 2024 report as soon as possible.
Perception Capital Corp. IV (NYSE: RCFA), una società di acquisizione a scopo speciale, ha ricevuto un avviso di insolvenza nella presentazione dalla Borsa di New York (NYSE) il 21 agosto 2024. L'azienda non ha presentato il suo Rapporto Trimestrale sul Modulo 10-Q per il trimestre conclusosi il 30 giugno 2024, violando la Sezione 802.01E del Manuale delle Società quotate NYSE. Anche se questa non conformità non influisce immediatamente sulla quotazione di RCFA, l'azienda deve recuperare la conformità per mantenere il proprio status. Inoltre, RCFA ha scoperto un errore nei suoi bilanci finanziari per l’anno conclusosi il 31 dicembre 2023 e per il trimestre conclusosi il 31 marzo 2024. L'azienda prevede di presentare emendamenti per correggere questi errori e inviare il rapporto tardivo del secondo trimestre 2024 il prima possibile.
Perception Capital Corp. IV (NYSE: RCFA), una sociedad de adquisición de propósito especial, ha recibido un aviso de incumplimiento en la presentación de la Bolsa de Nueva York (NYSE) el 21 de agosto de 2024. La empresa no presentó su Informe Trimestral en el Formulario 10-Q para el trimestre que finalizó el 30 de junio de 2024, violando la Sección 802.01E del Manual de Empresas Cotizadas de la NYSE. Aunque esta falta de cumplimiento no afecta de inmediato la cotización de RCFA, la empresa debe recuperar la conformidad para mantener su estatus. Además, RCFA descubrió un error en sus estados financieros para el año que terminó el 31 de diciembre de 2023 y para el trimestre que terminó el 31 de marzo de 2024. La empresa planea presentar enmiendas para corregir estos errores y enviar el informe del segundo trimestre de 2024 lo antes posible.
Perception Capital Corp. IV (NYSE: RCFA)는 특별 목적 인수 회사로, 2024년 8월 21일 뉴욕 증권 거래소(NYSE)로부터 제출 지연 통지를 받았습니다. 이 회사는 2024년 6월 30일 종료된 분기에 대한 10-Q 양식 분기 보고서를 제출하지 않아 NYSE 상장 회사 매뉴얼 제802.01E 조항을 위반했습니다. 이 비준수는 RCFA의 상장에 즉시 영향을 미치지는 않지만, 회사는 지위를 유지하기 위해 다시 준수해야 합니다. 또한, RCFA는 2023년 12월 31일 종료된 연도 및 2024년 3월 31일 종료된 분기에 대한 재무 제표 오류를 발견했습니다. 회사는 이러한 오류를 수정하기 위해 수정 사항을 제출할 계획이며, 가능한 한 빨리 지연된 2024년 2분기 보고서를 제출할 예정입니다.
Perception Capital Corp. IV (NYSE: RCFA), une société d'acquisition à but spécial, a reçu un avis de retard dans le dépôt de la Bourse de New York (NYSE) le 21 août 2024. L'entreprise a omis de soumettre son rapport trimestriel sur le formulaire 10-Q pour le trimestre clos le 30 juin 2024, enfreignant ainsi la section 802.01E du Manuel des sociétés cotées à la NYSE. Bien que cette non-conformité n'affecte pas immédiatement le classement de RCFA, l'entreprise doit retrouver la conformité pour maintenir son statut. De plus, RCFA a découvert une erreur dans ses états financiers pour l'année close le 31 décembre 2023, et pour le trimestre clos le 31 mars 2024. L'entreprise prévoit de déposer des amendements pour corriger ces erreurs et soumettre le rapport retardé du deuxième trimestre 2024 dès que possible.
Perception Capital Corp. IV (NYSE: RCFA), eine Special Purpose Acquisition Company, hat am 21. August 2024 eine Mitteilung über eine verspätete Einreichung von der New Yorker Börse (NYSE) erhalten. Das Unternehmen hat seinen Quartalsbericht auf Formular 10-Q für das am 30. Juni 2024 endende Quartal nicht eingereicht und damit gegen Abschnitt 802.01E des Handbuchs für börsennotierte Unternehmen der NYSE verstoßen. Obwohl diese Nichteinhaltung RCFA's Listing nicht sofort beeinflusst, muss das Unternehmen die Compliance wiederherstellen, um seinen Status zu behalten. Darüber hinaus hat RCFA einen Fehler in seinen Finanzberichten für das am 31. Dezember 2023 endende Jahr und das am 31. März 2024 endende Quartal entdeckt. Das Unternehmen plant, Änderungen einzureichen, um diese Fehler zu korrigieren und den verspäteten Bericht für das zweite Quartal 2024 so schnell wie möglich einzureichen.
- No immediate delisting from NYSE despite filing delinquency
- Company actively working to file required reports and amendments
- Failure to file Q2 2024 Quarterly Report on time
- Non-compliance with NYSE listing requirements
- Errors discovered in previous financial statements requiring restatement
- Potential risk of delisting if compliance is not regained
Insights
This notice from the NYSE highlights significant financial reporting issues for Perception Capital Corp. IV. The company's failure to file its Q2 2024 10-Q on time, coupled with errors in previous financial statements, raises red flags about its financial management and internal controls. These issues could potentially lead to:
- Increased scrutiny from regulators and auditors
- Loss of investor confidence
- Potential delisting if not resolved promptly
While the immediate impact on listing status is minimal, the need to restate previous financial reports is concerning. Investors should closely monitor the company's progress in addressing these issues and be cautious about the reliability of its financial data.
The NYSE notice triggers several legal and regulatory considerations for Perception Capital Corp. IV:
- Potential SEC investigations into the cause of the reporting delays and financial statement errors
- Risk of shareholder lawsuits alleging inadequate disclosure or misrepresentation
- Compliance challenges with Sarbanes-Oxley Act requirements on internal controls
The company's plan to file amendments and restatements is a necessary step, but it also exposes them to heightened legal scrutiny. The outcome will largely depend on the nature and extent of the errors, as well as the company's transparency and cooperation with regulators during this process.
MINNEAPOLIS, MN, Aug. 27, 2024 (GLOBE NEWSWIRE) -- Perception Capital Corp. IV (NYSE: RCFA), a special purpose acquisition corporation, received written notice on August 21, 2024 from the New York Stock Exchange (NYSE) that, because the Company has not yet filed its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024 (the “Report”) with the Securities and Exchange Commission (“SEC”), the Company is not in compliance with the continued listing requirements under Section 802.01E of the NYSE Listed Company Manual (Section 802.01E), which requires NYSE-listed companies to timely file all periodic reports with the SEC.
The Company’s noncompliance with Section 802.01E has no immediate effect on the listing of the company’s securities on the NYSE. Perception Capital Corp. IV plans to avail itself of the process provided by the NYSE to regain compliance. The company is working diligently to file the Report as soon as possible.
As previously reported by the Company in its Current Report on Form 8-K dated August 26, 2024, the Company determined that there was an error in its financial statements contained in its Annual Report on Form 10-K for the year ended December 31, 2023 and in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2024. The Company plans to file an amendment to its Form 10-K and plans to restate the quarterly period in the Form 10-Q to be filed for the quarter ended June 30, 2024, both of which the Company will file as soon as possible.
About Perception Capital Corp. IV
Perception Capital Corp. IV is a special purpose acquisition corporation.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding Perception’s intent to submit its late filing as soon as possible. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements.
Contact
Perception Capital Corp. IV
Rick Gaenzle
Chief Executive Officer
investors@perceptioncapitalpartners.com
FAQ
Why did Perception Capital Corp. IV (RCFA) receive a notice from NYSE on August 21, 2024?
What errors did Perception Capital Corp. IV (RCFA) discover in its financial statements?
Will Perception Capital Corp. IV (RCFA) be immediately delisted from NYSE due to the filing delinquency?
What actions is Perception Capital Corp. IV (RCFA) taking to address the filing delinquency?
