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Burgundy Technology Acquisition Corporation (NASDAQ: BTAQ) announced the filing of its Quarterly Report on Form 10-Q for the period ended March 31, 2021, regaining compliance with Nasdaq listing requirements. The report was previously delayed due to the need for evaluation following a statement from the SEC regarding SPACs and the accounting of warrants. The company also filed an amended Annual Report on Form 10-K, which included restated audited financial statements from inception through December 31, 2020. The company has not generated operating revenues to date.
Burgundy Technology Acquisition Corporation (NASDAQ: BTAQ) announced that it received a notice from Nasdaq on May 28, 2021, due to its failure to file its Quarterly Report for the period ending March 31, 2021. This results in non-compliance with Nasdaq Listing Rule 5250(c)(1); however, there is no immediate impact on the trading of its securities. The company plans to restate its financial statements and file an amended 10-K. Furthermore, the company has 60 days to present a plan to regain compliance, which could lead to a potential extension of 180 days.