Adit EdTech Acquisition Corp. Announces Intention To Voluntarily De-List From NYSE American
Portfolio Pulse from Happy Mohamed
Adit EdTech Acquisition Corp. (ADEX) has announced its plan to voluntarily de-list from the NYSE American. This decision follows the NYSE American's indication that it would not approve the listing of the post-closing company. ADEX has notified the NYSE American and plans to file a Form 25 with the SEC to proceed with the de-listing, expected to be effective around January 15, 2024. ADEX is seeking to list its common stock and warrants in the U.S. and Canada post its business combination with Griid Holdco LLC and will continue to file periodic reports with the SEC.
December 26, 2023 | 1:05 pm
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ADEX plans to de-list from NYSE American due to anticipated non-approval of its post-closing company listing. The company is looking to list in the U.S. and Canada after merging with Griid Holdco LLC and will maintain SEC filings.
The voluntary de-listing of ADEX from the NYSE American is a significant event that typically leads to reduced liquidity and visibility in the U.S. market, which can negatively impact the stock price in the short term. However, the company's plans to list in other markets and maintain SEC filings may mitigate some negative sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100