NYSE to Commence Delisting Proceeding Against Prime Impact Acquisition I (PIAI)
The New York Stock Exchange ("NYSE", the "Exchange") announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the three securities enumerated below ("Securities") of Prime Impact Acquisition I (the "Company") from the Exchange. Trading in the Company's Securities will be suspended immediately.
Symbol |
Description |
PIAI |
Class A ordinary shares |
PIAI.U |
Units, each consisting of one Class A ordinary share and one-third of a Warrant to acquire one Class A ordinary share |
PIAI.W |
Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 |
NYSE Regulation reached its decision to delist these Securities pursuant to Sections 802.01B and 102.06e. of the NYSE's Listed Company Manual because the Company failed to consummate a business combination within the shorter of (i) the time period specified by its constitutive documents or by contract or (ii) three years.
The Company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the Securities and Exchange Commission to delist the Securities upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff's decision.
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