Clean Energy Special Situations Corp. Notifies Investors of Late SEC Form 10-Q Filing

On December 1, 2023, Clean Energy Special Situations Corp. (hereinafter referred to as the 'Company'), which is traded under the ticker SWSS, publicly disclosed receipt of a compliance notice from Nasdaq. The notice dated November 29, 2023, from the Nasdaq Stock Market LLC ('Nasdaq'), highlighted the Company's failure to file its quarterly report on Form 10-Q within the prescribed timeframe, placing it at odds with Nasdaq's continued listing requirements.

Implications of the Delayed Filing

The delay in submitting the Form 10-Q, a financial disclosure crucial for investors to gauge the Company’s recent performance, could lead to several implications, including potential investor concern and speculative market activity surrounding the Company's stock. The Company is expected to address the issue promptly as per Nasdaq's standard procedures in such instances of noncompliance.

Company's Course of Action

In response to the notice, Clean Energy Special Situations Corp. is expected to submit a plan to regain compliance with Nasdaq's filing requirements within the allotted grace period. While the notice serves as a formal warning, it does not immediately affect the listing of SWSS on the stock market, although continuous noncompliance could eventually lead to delisting proceedings.

Investors and market watchers will be closely monitoring the situation as the Company works to fulfill its regulatory obligations and provide transparency into its financial health.

compliance, Nasdaq, filing