Trident Acquisitions (NASDAQ: TDAC, TDACU, TDACW) announced that it had received a standard notice last month from the listing qualifications staff of the Nasdaq Stock Market LLC. The notice stated that TDAC is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires companies to file all required periodic financial reports with the Securities Exchange Commission (“SEC”) in a timely manner. TDAC was notified that the company hadn’t filed its quarterly report for the period ending March 31, 2021. The company also noted that in April, the SEC issued a statement providing guidance for all SPAC-related companies regarding the accounting and reporting for their warrants. As a result, a number of SPACs are in the process of re-evaluating their accounting treatments for their warrants with auditors and other advisors; TDAC is one of these companies. The company noted it has at least 60 calendar days from the date of the notice to file its quarterly report. TDAC is actively working to file the required report as soon as possible.
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About Trident Acquisitions Corp.
Trident is a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities. Trident’s securities are quoted on the NASDAQ stock exchange under the ticker symbols TDACU, TDAC and TDACW. For more information about the company, please visit www.TridentAcquisitions.com.
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