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Greencity Acquisition Corporation (NASDAQ: GRCY) has received a notice from Nasdaq due to the late filing of its Annual Report on Form 10-K for the year ending December 31, 2022. The notice was issued on April 24, 2023, indicating non-compliance with Nasdaq's timely filing criteria. Greencity has 60 days to submit a compliance plan; if accepted, it may receive up to 180 additional days to file the required report. The company is actively working to complete its Form 10-K and intends to file it to maintain its listing status. There is no guarantee that Nasdaq will accept the plan or that compliance will be achieved within the provided timeframe.
Greencity Acquisition Corporation (NASDAQ:GRCY) announced the signing of a non-binding letter of intent (LOI) with Bopai Construction Technology (Shanghai) Co., Ltd. on April 21, 2023. The LOI outlines plans for a potential business combination, subject to satisfactory due diligence and the delivery of audited financial statements by Bopai. Bopai is recognized for its innovation in the 'Construction Industry 4.0', specializing in 3D printing technologies, and holds 43 patents. Greencity aims to focus on Asian market opportunities and is positioned to engage in mergers, share exchanges, or similar business combinations. The transaction's specifics and strategic value will be evaluated as the process progresses.
Greencity Acquisition Corporation (NASDAQ: GRCY) has received a notice from Nasdaq due to its failure to timely file its Quarterly Report on Form 10-Q for the quarter ending September 30, 2022. The company missed the deadline despite filing for an extension on November 15, 2022. This notice alerts GRCY to its non-compliance with Nasdaq's continued listing requirements. The company has 60 days to submit a compliance plan, with a possible extension of up to 180 days. GRCY is actively working to complete and file its 10-Q to regain compliance.
Greencity Acquisition Corporation (NASDAQ:GRCY) announced that shareholders voted to extend the deadline for consummating a business combination from October 28, 2022, to April 28, 2023. The extension was approved with 3,506,907 ordinary shares, representing 100% of voting shares present at the Annual General Meeting held on October 28, 2022. Following this decision, Greencity will file an amendment to its Memorandum and Articles of Association with the Cayman Islands Registrar of Companies.
Greencity Acquisition Corporation (NASDAQ:GRCY) announced on April 19, 2022, that its shareholders voted overwhelmingly to extend the deadline for completing a business combination from April 28, 2022, to October 28, 2022. At the Extraordinary General Meeting held on April 18, 2022, 99.98% of voting shareholders, representing 3,575,801 ordinary shares, approved the extension. The company intends to focus on acquisition opportunities linked to the Asian market and will amend its Memorandum and Articles of Association accordingly.
Greencity Acquisition Corporation (NASDAQ: GRCY) announced on August 9, 2021, that it has regained compliance with Nasdaq listing requirements following the timely filing of its Form 10-Q for the quarter ended March 31, 2021. Nasdaq confirmed this compliance through a letter received on August 6, 2021. The company, incorporated in the Cayman Islands, is focused on pursuing business combinations primarily related to the Asian market, although it remains open to various sectors.
Greencity Acquisition Corporation (NASDAQ: GRCY) has announced a deposit of $133,334 into its trust account to extend the deadline for completing a business combination by one month to August 28, 2021. The sponsor, Cynthia Management Corporation, plans to extend this period up to April 28, 2022, by making additional deposits totaling $1,066,666. Greencity is a blank check company focusing on acquiring businesses related to the Asian market.
Greencity Acquisition Corporation (NASDAQ: GRCY) has received a notice from Nasdaq for failing to timely file its Q1 2021 Form 10-Q. The notice indicates non-compliance with Nasdaq's listing requirements under Rule 5250(c)(1). The company has until August 9, 2021, to submit a compliance plan. If accepted, Nasdaq may grant an extension of up to 180 days until November 22, 2021. The company is actively working to file the report as soon as possible to regain compliance.
Greencity Acquisition Corporation has priced its initial public offering (IPO) at $10.00 per unit, totaling 4,000,000 units, to be listed on Nasdaq under the symbol GRCYU, with trading starting July 24, 2020. Each unit comprises one ordinary share and one warrant, the latter exercisable for half a share at $11.50. The underwriters have a 45-day option to purchase an additional 600,000 units. The offering is anticipated to close on July 28, 2020, subject to customary conditions. Ladenburg Thalmann is the book-running manager for the IPO.
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