Current Report Filing (8-k)
June 15 2023 - 4:02PM
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UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or Section 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): June 15, 2023 (June 14, 2023)
PATRIA LATIN AMERICAN OPPORTUNITY ACQUISITION CORP.
(Exact
Name of Registrant as Specified in its Charter)
Cayman
Islands |
|
001-41321 |
|
N/A |
(State
or other jurisdiction of
incorporation or organization) |
|
(Commission
File Number) |
|
(I.R.S.
Employer
Identification Number) |
18
Forum Lane, 3rd floor,
Camana
Bay, PO Box 757, Grand Cayman |
|
KY1-9006 |
(Address
of Principal Executive Offices) |
|
(Zip
Code) |
+1 345 640 4900
Registrant’s telephone number, including area code
Not
Applicable |
(Former
name or former address, if changed since last report) |
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.
below):
☐ |
Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425) |
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12) |
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b)) |
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Units,
each consisting of one Class A ordinary share, $0.0001 par value, and one-half of one redeemable warrant |
|
PLAOU |
|
The
Nasdaq Stock Market LLC |
Class
A ordinary shares, included as part of the units |
|
PLAO |
|
The
Nasdaq Stock Market LLC |
Redeemable
warrants, included as part of the units, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 |
|
PLAOW |
|
The
Nasdaq Stock Market LLC |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section
13(a) of
the Exchange Act.
Item
3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On
June 14, 2023, Patria Latin American Opportunity Acquisition Corp. (the “Company”), received a written notice from the Listing
Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) indicating that since the Company’s aggregate market
value of its outstanding warrants was less than $1 million, the Company was no longer in compliance with the Nasdaq Global Market continued
listing criteria set forth in Listing Rule 5452(b)(C), which requires the Company to maintain an aggregate market value of its outstanding
warrants of at least $1 million (the “Notice”). The Notice additionally indicates that the Company, pursuant to the Listing
Rules, has 45 calendar days, or until July 31, 2023, to submit a plan to regain compliance. If Nasdaq accepts the Company’s plan,
the Company will have 180 calendar days from the date of the Notice, or until December 11, 2023, to evidence compliance. If Nasdaq were
to reject the Company’s plan, Nasdaq rules permit the Company to appeal the decision to a hearings panel.
The
Notice serves only as a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of
the Company’s warrants on the Nasdaq Global Market. Additionally, the Notice relates only to the Company’s warrants and will
have no effect on the listing or trading of the Company’s Class A ordinary shares. The Company intends to take action to submit
a plan to regain compliance within the 45 calendar day submission period, and, if Nasdaq accepts the plan to regain compliance, to subsequently
regain compliance with Rule 5452(b)(C) within the 180 calendar day compliance period. While the Company is exercising diligent efforts
to maintain the listing of its warrants on Nasdaq Global Market, there can be no assurance that the Company will be able to regain or
maintain compliance with Nasdaq Global Market aggregate market value of outstanding warrants requirement. In addition, if the Company
does not meet the aggregate market value of outstanding warrants requirement by the end of the 180 calendar day compliance period, Nasdaq
could provide notice that the Company’s warrants will become subject to delisting. In the event the Company receives notice that
its warrants are being delisted, Nasdaq rules permit the Company to appeal any delisting determination by the Nasdaq staff to a hearings
panel.
Item
9.01. Financial Statements and Exhibits.
(d)
Exhibits:
Exhibit No. |
|
Description |
104 |
|
Cover
Page Interactive Data File (embedded with the Inline XRBL document). |
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
Date:
June 15, 2023 |
PATRIA LATIN AMERICAN OPPORTUNITY ACQUISITION CORP. |
|
|
|
By: |
/s/ José Augusto Gonçalves de Araújo Teixeira |
|
|
José Augusto Gonçalves de Araújo Teixeira |
|
|
Chief Executive Officer |
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