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Irving, Texas, December 6, 2021 /PRNewswire/ – Breeze Holdings Acquisition Corp. (NASDAQ:No) (“Company”) announced today that November 30, 2021 It received a notice (“Notice”) from the Qualifications Department of the Nasdaq Stock Market (“NASDAQ”) stating that the company did not comply with Nasdaq Listing Rule 5250(c)(1) (“Rules”) ), because the company failed to submit the quarterly report on Form 10-Q (“Form 10-Q”) to the U.S. Securities and Exchange Commission (“SEC”) in a timely manner as of September 30, 2021. This notice has no immediate impact on the listing or trading of the company’s securities on the Nasdaq Capital Market.
As the US Securities and Exchange Commission recently provided guidance to special purpose acquisition companies on redeemable equity instruments, the company re-examined its application of ASC 480-10-S99 in its financial statements. The company has previously classified some common shares as perpetual equity. According to ASC 480-10-S99 and after discussion with the company’s management, the company’s audit committee came to the conclusion…
The full story can be found on Benzinga.com
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