Ross Acquisition Corp II Receives Expected NYSE Notice Regarding Delayed Form 10-Q Filing

Rhea-AI Summary

On May 27, 2021, Ross Acquisition Corp II (NYSE: ROSS) announced it regained compliance with NYSE regulations after filing its Form 10-Q for the quarter ended March 31, 2021. This filing came after receiving a notice from the NYSE on May 25, 2021, indicating non-compliance due to a delayed filing. The NYSE gave the company six months to rectify the issue. The compliance reinstatement means the listing of ROSS on the NYSE remains unaffected.

Positive

• Regained compliance with NYSE regulations
• Filed Form 10-Q on time, avoiding potential delisting

Negative

• Received a non-compliance notice from NYSE

PALM BEACH, Fla., May 27, 2021 /PRNewswire/ -- Ross Acquisition Corp II (NYSE: ROSS) (the "Company") today announced 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 27, 2021.  

On May 25, 2021, the Company received a notice (the "Notice") from the NYSE indicating that the Company was not in compliance with the Rule because it had not timely filed its Form 10-Q with the SEC as required by the Rule. The Notice had no immediate effect on the listing of the Company's stock on the NYSE, and indicated that the Company had six months to file its Form 10-Q to regain compliance. By letter dated May 27, 2021, the NYSE confirmed that the Company had regained compliance with the Rule with the filing of the Form 10-Q.

Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements." 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 final prospectus 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.

Contacts
Wilbur L. Ross, Jr.
(561) 655-2615
wross@rossacquisition2.com

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SOURCE Ross Acquisition Corp. II

FAQ

What does the NYSE compliance notification mean for ROSS?

The NYSE compliance notification indicated that ROSS had not timely filed its Form 10-Q, which could potentially affect its stock listing, but the company has since rectified this.

When did Ross Acquisition Corp II regain compliance with NYSE rules?

ROSS regained compliance on May 27, 2021, after filing its Form 10-Q.

What is the significance of the Form 10-Q filing?

The Form 10-Q provides essential financial information and is required for NYSE compliance, helping maintain investor confidence.

What was the timeframe given to ROSS by the NYSE to regain compliance?

The NYSE allowed ROSS six months to file its Form 10-Q to regain compliance.