NEW YORK, June 1, 2021 /PRNewswire/ -- Longview Acquisition
Corp. II (NYSE: LGV) (the "Company") announced today that it had
received a notice from the New York Stock Exchange (the "NYSE")
indicating that the Company is not in compliance with Section
802.01E of the NYSE Listed Company Manual as a result of its
failure to timely file its Quarterly Report on Form 10-Q for the
quarter ended March 31, 2021 (the "Q1 2021 Form 10-Q") with
the Securities and Exchange Commission (the "SEC").
The NYSE informed the Company that, under NYSE rules, the
Company will have six months from its due date to file the Q1 2021
Form 10-Q with the SEC. The Company can regain compliance with the
NYSE listing standards at any time prior to that date by filing its
Q1 2021 Form 10-Q. If the Company fails to file the Q1 2021 Form
10-Q before the NYSE's compliance deadline, the NYSE may grant, at
its sole discretion, an extension of up to six additional months
for the Company to regain compliance, depending on the specific
circumstances. The notice from the NYSE also notes that the NYSE
may nevertheless commence delisting proceedings at any time if it
deems that the circumstances warrant.
As the Company reported in its Form 12b-25 filed with the SEC on
May 17, 2021, the Company reevaluated the accounting treatment
of its outstanding warrants (the "Warrants") following the issuance
by the Staff of the SEC of the "Staff Statement on Accounting and
Reporting Considerations for Warrants Issued by Special Purpose
Acquisition Companies ("SPACs")" (the "SEC Staff Statement"), which
provides guidance for all SPACs regarding the accounting and
reporting for their warrants. The Company concluded that, based on
the SEC Staff Statement, the Warrants should be classified as
liabilities measured at fair value, with subsequent changes in fair
value recorded in the Company's statement of operations each
reporting period. The Company continues to work diligently to
complete the Q1 2021 Form 10-Q as soon as possible; however, given
the scope of the valuation process for calculating the fair value
of the Warrant liabilities in accordance with the SEC Staff
Statement, the Company is not in a position to file the Q1 2021
Form 10-Q until after the completion of this process.
About Longview Acquisition Corp. II
Longview Acquisition Corp. II is a Special Purpose Acquisition
Vehicle formed by an affiliate of Glenview Capital Management, LLC
("Glenview"). While the Company may pursue an initial business
combination in any business, industry, sector or geographical
location, it intends to focus on the industries that align with the
background of the sponsor with a particular emphasis placed on the
healthcare sector. These industries include healthcare,
industrials, consumer, media, technology and technology
services. Glenview, a registered investment adviser with
investment experience and a track record of creating value through
constructive partnerships with companies operating in the public
markets. intends to focus on private businesses where the
management, with the Company's assistance, can execute a plan to
create value for the Company's stockholders in the public
markets.
Forward-Looking Statements
This press release may include "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. 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," "estimate," "expect," "intend" and similar
expressions, as they relate to us or our 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 us or persons acting on our behalf are qualified in
their entirety by this paragraph. 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
prospectus relating to the Company's initial public offering filed
with the SEC. 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
Longview Acquisition Corp. II
(212) 812-4700
info@longviewacquisition.com
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SOURCE Longview Acquisition Corp. II