Summary not available.
EdtechX Holdings Acquisition Corp. II (NASDAQ: EDTX) announced it received a notification from the NASDAQ Listing Qualifications Department on March 8, 2023, regarding non-compliance with Listing Rule 5250(c)(1). The company failed to submit its Quarterly Report on Form 10-Q for the fiscal quarter ending December 31, 2022. EdtechX has until May 8, 2023, to submit a compliance plan, which could allow for an extension until August 14, 2023. The company is actively working to complete the Form 10-Q but faces risks of potential delisting if compliance is not achieved. This notification does not currently affect the listing status of its securities.
EdtechX Holdings Acquisition Corp. II has announced a merger with zSpace, Inc., a leader in AR and VR technology for education, to create a publicly traded entity named zSpace Technologies, Inc.. The merger implies a pro forma enterprise value of $195 million, with $117 million in cash available for growth initiatives. zSpace serves over one million students annually, leveraging significant market potential in the educational AR/VR sector, projected to reach $12.6 billion by 2025. The merger is expected to close in Q4 2022, subject to regulatory approvals.
Summary not available.
EdtechX Holdings Acquisition Corp. II (NASDAQ: EDTX) faced a compliance issue with NASDAQ due to the failure to file its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2021. The company received a notice on May 26, 2021, allowing until July 26, 2021, to submit a compliance plan. The delay arises from the increased demand for third-party accountants following an SEC statement on SPAC warrant accounting. Although there is no immediate impact on its listing, the company cannot guarantee compliance.
EdtechX Holdings Acquisition Corp. II (Nasdaq: EDTXU) has successfully completed the sale of 1,500,000 additional units, part of its IPO, generating $15,000,000 in gross proceeds. Each unit, priced at $10.00, includes one share of Class A common stock and half a warrant, which allows the purchase of one share at $11.50. The units are traded on The Nasdaq Capital Market, and the Class A Common Stock and Warrants will soon be available under separate symbols. Jefferies LLC was the lead manager of this offering.
On December 15, 2020, EdtechX Holdings Acquisition Corp. II (Nasdaq: EDTXU) announced the completion of its initial public offering (IPO) of 10 million units at $10.00 each, raising $100 million in gross proceeds. The units began trading on Nasdaq on December 11, 2020. Each unit consists of one share of Class A common stock and one-half of a redeemable warrant, with each full warrant allowing the purchase of one share of Class A common stock at $11.50. The underwriters received a 45-day option to purchase an additional 1.5 million units to cover over-allotments.
EdtechX Holdings Acquisition Corp. II (Nasdaq: EDTXU) has priced its initial public offering at $10.00 per unit, totaling 10 million units. Trading will begin on December 11, 2020. Each unit comprises one share of Class A common stock and a half warrant, with each whole warrant allowing purchase of additional stock at $11.50. The offering has a 45-day option for underwriters to purchase an additional 1.5 million units. Jefferies LLC and Macquarie Capital manage the offering, expected to close around December 15, 2020.