Full Press Release Details
Horn Holdings Corp. Announces Receipt of Notice from Nasdaq
Regarding Late Filing of Quarterly Report on Form 10-Q
BEACH, FLORIDA, MAY 28, 2021 (GLOBE NEWSWIRE) - Bull Horn Holdings Corp. (NASDAQ: BHSE) (the "Company") today announced
that it has received a notice ("Notice") from the Listing Qualifications Department of The Nasdaq Stock Market ("Nasdaq")
as a result of its failure to file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 (the "Form 10-Q")
in a timely fashion. The Notice advised the Company that it was not in compliance with Nasdaq's continued listing requirements
under the timely filing criteria established in Nasdaq Listing Rule 5250(c)(1).
reported by the Company in its Form 12b-25 filed with the Securities and Exchange Commission (the "SEC") on May 17, 2021,
the Company was unable to file its Form 10-Q within the prescribed time period without unreasonable effort or expense due to the Company's
conclusion (based on recently issued SEC guidance) that its outstanding public and private warrants should be accounted for as a liability
and the resulting additional time required for updating the Company's financial statements accordingly. The extension period provided
for filing the Form 10-Q under Rule 12b-25 expired on May 24, 2021.
Notice has no immediate effect on the listing or trading of the Company's securities.
Nasdaq has informed the Company that, under Nasdaq rules, the Company
will have 60 calendar days from the date of the Notice (May 28, 2021) to file its Form 10-Q with the SEC. The Company can regain compliance
with Nasdaq listing standards during this sixty-day period when the Company files its Form 10-Q with the SEC. During the sixty-day period,
Nasdaq will closely monitor the status of the Company's late filing and related public disclosures. If the Company fails to file its Form
10-Q within such sixty-day period, Nasdaq may, in its sole discretion, allow the Company's units, ordinary shares and warrants to trade
for up to 180 days from the Form 10-Q's filing due date, or November 22, 2021 (an "Additional Period"), depending on
specific circumstances, as outlined in the rule. If Nasdaq determines that Additional Period is not appropriate, suspension and delisting
procedures will commence pursuant to the Nasdaq Listing Rules. If Nasdaq determines that an Additional Period is appropriate and the Company
fails to file its Form 10-Q and any subsequent delayed filings by the end of that period, suspension and delisting procedures will generally
commence. Regardless of the procedures described above, Nasdaq may commence delisting proceedings at any time during the period that is
available to complete the filing, if circumstances warrant.
Company is working diligently to complete its Form 10-Q. The Company intends to file the Form 10-Q as soon as practicable to regain compliance
with the Nasdaq Listing Rules. No assurance can be given that the Company will be able to regain compliance with the Nasdaq timely filing
listing requirement.
Bull Horn Holdings Corp.
Horn Holdings Corp. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition,
stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business
combination target in any business or industry, the Company intends to focus on leading sports, entertainment and brand companies that
have potential for brand and commercial growth. The Company is led by Chief Executive Officer, Robert Striar, and Chief Financial Officer,
Christopher Calise. In addition to Messrs. Striar and Calise, the Board of Directors includes Stephen Master, Michael Gandler, Jeff Wattenberg,
Doug Schaer and Baron Davis.
Note Regarding Forward-Looking Statements
press release may include, and oral statements made from time to time by representatives of the Company may include, "forward-looking
statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended. Statements regarding possible business combinations and the financing thereof, and related matters, as well
as all other statements other than statements of historical fact included in this press release are forward-looking statements. When
used in this press release, words such as "anticipate," "believe," "continue," "could,"
"estimate," "expect," "intend," "may," "might," "plan," "possible,"
"potential," "predict," "project," "should," "would" and similar expressions,
as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs
of management, as well as assumptions made by, and information currently available to, the Company's management. Actual results
(including the results of the Company's efforts to comply with Nasdaq listing standards as described herein) could differ materially
from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company's filings with
the Securities and Exchange Commission ("SEC"). All subsequent written or oral forward-looking statements attributable to
us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous
conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's
registration statement and prospectus for the Company's initial public offering filed with the SEC. The Company undertakes no obligation
to update these statements for revisions or changes after the date of this release, except as required by law.
Chief Executive Officer
Bull Horn Holdings Corp.