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Adit EdTech Acquisition Corp. - $ADEX STOCK NEWS

Welcome to our dedicated page for Adit EdTech Acquisition news (Ticker: $ADEX), a resource for investors and traders seeking the latest updates and insights on Adit EdTech Acquisition stock.

Adit EdTech Acquisition Corp. (ADEX) is a publicly listed special purpose acquisition company (SPAC) incorporated in Delaware. The primary objective of ADEX is to engage in mergers, share exchanges, asset acquisitions, share purchases, reorganizations, or similar business combinations with one or more businesses. The company has a particular interest in the education, training, and edtech sectors, aiming to leverage its financial and managerial expertise to foster growth and create value.

ADEX is sponsored by Adit EdTech Sponsor, LLC, an affiliate of Adit Ventures, LLC. Adit Ventures boasts an investment team with over 150 years of combined experience, demonstrating a robust track record of value creation in public market portfolio companies. This extensive experience positions ADEX as a strategic player in the acquisition market, particularly within its targeted sectors.

Recently, ADEX has announced that it received a notice from the New York Stock Exchange (NYSE) indicating non-compliance with Section 802.01E due to a delay in filing its Quarterly Report on Form 10-Q for the quarter ended March 31, 2021. The company is actively working to resolve the issue by reassessing the accounting treatment of its redeemable warrants following new guidelines issued by the SEC. ADEX is committed to filing the Form 10-Q as soon as practicable to regain compliance with NYSE listing standards.

In another significant development, ADEX has voluntarily decided to delist its common stock, units, and warrants from the NYSE American LLC. This decision follows indications that NYSE American may not approve the listing of the post-closing company. ADEX plans to list its common stock and warrants on exchanges in the U.S. and Canada following its business combination with Griid Holdco LLC. Despite the delisting, ADEX will continue to file periodic reports and other relevant information with the SEC to maintain transparency with investors.

With a clear focus on leveraging its experienced sponsorship and strategic acquisition objectives, Adit EdTech Acquisition Corp. continues to position itself as a key player in the edtech and broader education sectors, aiming to drive growth and deliver long-term value to its shareholders.

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Adit EdTech Acquisition Corp. (ADEX) announces voluntary de-listing of its common stock, units, and warrants from NYSE American.
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FAQ

What is Adit EdTech Acquisition Corp. (ADEX)?

Adit EdTech Acquisition Corp. (ADEX) is a special purpose acquisition company (SPAC) focused on mergers, acquisitions, and business combinations within the education, training, and edtech sectors.

Who sponsors Adit EdTech Acquisition Corp.?

ADEX is sponsored by Adit EdTech Sponsor, LLC, an affiliate of Adit Ventures, LLC, which boasts over 150 years of combined investment experience.

Why did ADEX receive a non-compliance notice from NYSE?

ADEX received a non-compliance notice from NYSE for failing to timely file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2021.

What are ADEX's plans following the decision to delist from NYSE American?

ADEX plans to list its common stock and warrants on securities exchanges in the U.S. and Canada following its business combination with Griid Holdco LLC.

Will ADEX continue to file reports with the SEC after delisting?

Yes, ADEX will continue to file periodic reports and other relevant information with the SEC to maintain investor transparency.

What sectors does ADEX primarily focus on for acquisitions?

ADEX primarily focuses on the education, training, and edtech industries for its acquisition targets.

What are redeemable warrants, and why are they important for ADEX?

Redeemable warrants are financial instruments that give the holder the right to purchase company stock at a specified price. ADEX is currently reassessing the accounting treatment of these warrants following new SEC guidelines.

How is ADEX addressing the delayed filing of Form 10-Q?

ADEX is actively working to file the Form 10-Q as soon as practicable by reassessing the accounting treatment of its redeemable warrants per new SEC guidelines.

What is the business combination that ADEX is currently pursuing?

ADEX is pursuing a business combination with Griid Holdco LLC, which will influence its new listing on exchanges in the U.S. and Canada.

What makes ADEX a strategic player in the acquisition market?

ADEX's affiliation with Adit Ventures, LLC, and its team's extensive experience and proven track record in value creation make it a strategic player in the acquisition market, particularly in the edtech sector.

Adit EdTech Acquisition Corp.

NYSE:ADEX

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47.88M
2.04M
10.19%
2.61%
0.14%
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