BAKERSFIELD, Calif., April 25,
2022 /PRNewswire/ -- Sustainable Development
Acquisition I Corp. (NASDAQ: SDAC) announces that on April 19, 2022, as a result of its failure to
timely file with the Securities and Exchange Commission ("SEC") its
Annual Report on Form 10-K for the year ended December 31, 2021 (the "Form 10-K"), it received
a notice from The Nasdaq Stock Market LLC ("Nasdaq") stating that
the Company was not in compliance with the periodic filing
requirements for continued listing set forth in Nasdaq Listing Rule
5250(c)(1). Nasdaq's listing rules provide the Company with 60
calendar days from the date of the notice to submit a plan to
regain compliance. The Nasdaq notice has no immediate effect on the
listing or trading of the Company's securities on Nasdaq. As
previously disclosed by the Company in its Form 12b-25 filed with
the SEC on March 31, 2022, the Company was unable to file its Form
10-K by its original deadline without unreasonable effort or
expense.
The Company fully regained compliance with the Nasdaq continued
listing requirements as a result of filing the Form 10-K on
April 22, 2022, which eliminated the
need for the Company to submit a formal plan to regain
compliance.
Forward-Looking Statements
This press release includes
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including statements
related to the Company's continued listing on Nasdaq. All
statements other than statements of historical fact included in
this press release are forward-looking statements. When used in
this press release, words such as "anticipate," "believe,"
"continue," "could," "estimate," "expect," "intend," "may,"
"might," "plan," "possible," "potential," "predict," "project,"
"should," "would" and similar expressions, as they relate to the
Company or its management team, identify forward-looking
statements. Such forward-looking statements are based on the
beliefs of management, as well as assumptions made by, and
information currently available to, the Company's management.
Actual results could differ materially from those contemplated by
the forward-looking statements as a result of certain factors
detailed in the Company's filings with the SEC. All subsequent
written or oral forward-looking statements attributable to the
Company or persons acting on its behalf are qualified in their
entirety by this paragraph. The Company undertakes no obligation to
update these statements for revisions or changes after the date of
this release, except as required by law.
About the Company
Sustainable Development Acquisition
I Corp., a public benefit corporation and Pending B Corporation, is
a special-purpose acquisition company created to acquire a
successful business that is addressing the global challenges
identified by the United Nations Sustainable Development Goals.
SDAC was formed as a partnership between RRG Global Partners Fund,
a private fund affiliated with Renewable Resources Group, a
certified B Corp, and Sustainable Investors Fund, a private fund
affiliated with Capricorn Investment Group, a certified B Corp.
Contact:
Media Contact:
Arón Villarreal
Info@WaterFoodEnergySpac.com
(323) 329 8221
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SOURCE Sustainable Development Acquisition I Corp.
