NEW YORK, Dec. 7, 2021 /PRNewswire/ -- VectoIQ
Acquisition Corp. II (Nasdaq: VTIQU, VTIQ, VTIQW) (the "Company")
today announced that on December 1,
2021 it received a deficiency letter (the "Notice") from the
Nasdaq Capital Market ("Nasdaq") relating to the Company's failure
to timely file its Quarterly Report on Form 10-Q for the
quarter ended September 30, 2021 (the
"Form 10-Q") as required under Section 5250(c) of
the Nasdaq Rules and Regulations.
Recent updates in guidance relating to the accounting for
founder shares issued by special purpose acquisition companies such
as the Company has resulted in the Company's delay in preparing and
finalizing its financial statements as of and for the quarter ended
September 30, 2021 and filing its
Form 10-Q with the Securities and Exchange Commission
(the "SEC") by the prescribed deadline. Under Nasdaq rules, the
Company has 60 calendar days from receipt of the Notice, or until
January 30, 2022, to submit a plan to
regain compliance with the Nasdaq rule. If Nasdaq accepts the
Company's plan, then Nasdaq may grant an exception of up to 180
calendar days from the due date of the Form 10-Q, or until
May 23, 2022, to regain compliance.
However, there can be no assurance that Nasdaq will accept the
Company's plan to regain compliance or that the Company will be
able to regain compliance within any extension period granted by
Nasdaq. If Nasdaq does not accept the Company's
plan, then the Company will have the opportunity to appeal that
decision to a Nasdaq hearings panel.
About VectoIQ Acquisition Corp. II
VectoIQ Acquisition Corp. II is a blank check company formed as
a Delaware corporation for the
purpose of effecting a merger, share exchange, asset acquisition,
stock purchase, reorganization, recapitalization or other similar
business combination with one or more businesses. Although the
Company may pursue its initial business combination in any
business, industry or geographic location, it currently intends to
focus on opportunities to capitalize on the ability of its
management team, particularly its executive officers, to identify,
acquire and operate a business in the industrial technology,
transportation and smart mobility industries.
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 Annual Report on Form 10-K filed
with the SEC on March 29, 2021 and
subsequent reports 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.
Contact:
Gladstone Place Partners
Lauren Odell / Patricia
Figueroa
212-230-5930
View original
content:https://www.prnewswire.com/news-releases/vectoiq-acquisition-corp-ii-announces-receipt-of-nasdaq-continued-listing-standard-notice-301439656.html
SOURCE VectoIQ Acquisition Corp. II
