Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction
A.2. below):
Indicate by check mark whether the registrant
is an emerging growth Alberton as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities
Exchange Act of 1934 (17 CFR §240.12b-2).
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.
Item 8.01. Other Events.
On March 3, 2022, Alberton
Acquisition Corporation (the “Company”) received notice that the Nasdaq Listing Qualifications Panel (the “Panel”)
has granted the Company’s request for continued listing on The Nasdaq Capital Market pursuant to a further extension and subject
to, among other things, the Company’s demonstration of compliance with all initial listing standards required by The Nasdaq Stock
Market’s (“Nasdaq”) rules and consummation of the merger with SolarMax Technology, Inc. (“SolarMax”) by
April 26, 2022.
As previously disclosed, in December 2021, the
Company attended a hearing before the Panel, at which it presented its plan to regain compliance with Nasdaq IM-5101-2, which requires
that a special purpose acquisition company must complete one or more business combinations within 36 months of the effectiveness of its
initial public offering registration statement. Following the hearing, and as disclosed on January 5, 2022, the Panel granted the Company’s
request to continue its listing on Nasdaq through the original March 14, 2022. On February 28, 2022, the Company submitted a request for
additional extension through April 26, 2022 because it needed additional time to prepare and include the audited financial statements
for the year ended December 31, 2021 for the Company and SolarMax in the registration statement on Form S-4 and the related proxy statement/prospectus
in connection with the merger, which request was granted by the Panel on March 3, 2022. The Panel stated that April 26, 2022 represents
the full extent of the Panel’s discretion to grant continued listing while the Company is non-compliant. As a result, if the merger
is not completed and the Company does not demonstrate compliance with the applicable Nasdaq listing requirements by April 26, 2022, the
Panel will issue a final delist determination and the Company will be suspended from trading on Nasdaq.
While the Company is working toward regaining
compliance with all applicable requirements for continued listing on Nasdaq, there can be no assurance that the Company will be able to
demonstrate compliance by the deadlines set forth above or that the Panel will grant the Company an extension in the event compliance
is not timely achieved.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit Number |
|
Exhibit Description |
99.1 |
|
Press release dated March 7, 2022 |
104 |
|
Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: March 7, 2022
|
ALBERTON ACQUISITION CORPORATION |
|
|
|
By: |
/s/ Guan Wang |
|
|
Name: Title: |
Guan Wang Chief
Executive Officer |
2
Exhibit 99.1
Alberton Acquisition Corporation receives further
Nasdaq extension to complete merger with SolarMax Technology, Inc.
On March 3, 2022, Alberton Acquisition Corp. (the
“Company”) received notice from the Nasdaq Office of General Counsel that a Nasdaq Hearings Panel (the “Panel”)
had granted the Company’s request to continue its listing on Nasdaq through April 26, 2022 (the “Extended Date”). As
previously disclosed, in December 2021, the Company attended a hearing before the Panel, at which it presented its plan to regain compliance
with Nasdaq IM-5101-2, which requires that a special purpose acquisition company must complete one or more business combinations within
36 months of the effectiveness of its initial public offering registration statement; and demonstrate compliance with all initial listing
standards required by the Nasdaq. Following the hearing, and as disclosed on January 5, 2022, the Panel granted the Company’s request
for an extension to regain compliance by the original March 14, 2022 (the “Original Extended Date”). On February 28, 2022,
the Company submitted a request for additional extension as a result of the need for additional time to prepare and include the audited
financial statements for the fiscal year ended December 31, 2021 for the Company and SolarMax in the S-4, which request was granted by
the Panel on March 3, 2022. The Panel’s decision is subject to certain conditions, including that the Company will have completed
its previously announced proposed business combination (the “Business Combination”) with SolarMax Technology, Inc. (“SolarMax”)
on or before April 26, 2022, the Extended Date, and that the combined company will have demonstrated compliance with all applicable requirements
for initial listing on Nasdaq. The Panel stated that April 26, 2022 represents the full extent of the Panel’s discretion to grant
continued listing while the Company is non-compliant. As a result, if the merger is not completed and the Company does not demonstrate
compliance with the applicable Nasdaq listing requirements by April 26, 2022, the Panel will issue a final delist determination and the
Company will be suspended from trading on Nasdaq.
As previously announced, the Company has entered
into a binding definitive agreement to merge with SolarMax. The Company filed its most recent amendment to the Proxy Statement/Registration
Statement on Form S-4 (the “S-4”) for the merger on December 13, 2021. The Company intends to mail the S-4 to shareholders
promptly following completion of the Securities and Exchange Commission review process and to hold the shareholder meeting at which it
will seek approval for the Business Combination as soon as possible.
About Alberton
Alberton is a British
Virgin Islands blank check company, also commonly referred to as a Special Purpose Acquisition Company, or SPAC, formed for the purpose
of effecting a merger, asset acquisition or other business combination with one or more businesses or entities. Alberton’s units,
ordinary shares and warrants are currently listed on the Nasdaq Capital Market under the symbols “ALACU,” “ALAC”
and “ALACW, respectively.
About SolarMax
SolarMax, a Nevada corporation,
is an integrated solar energy company. Its principal executive offices are located at 3080 12th Street, Riverside, California 92507. SolarMax’
website is http://www.solarmaxtech.com. Any information contained on, or that can be accessed through, SolarMax’ website or
any other website is not a part of this press release.
Additional Information
about the Proposed Business Combination and Where to Find It
Alberton filed with the
SEC a registration statement on Form S-4 (file no. 333-251825) with a proxy statement containing information about the proposed business
combination and the respective businesses of Alberton and SolarMax Technology, Inc., a Nevada corporation (“SolarMax”). Alberton
will mail a final prospectus and definitive proxy statement and other relevant documents after the SEC completes its review. Alberton
and SolarMax shareholders are urged to read the preliminary prospectus and proxy statement and any amendments thereto and the final prospectus
and definitive proxy statement in connection with the solicitation of proxies for the special meetings to be held to approve the proposed
transaction, because these documents will contain important information about Alberton, SolarMax and the proposed transaction. The final
prospectus and definitive proxy statement will be mailed to shareholders of Alberton and SolarMax as of a record date to be established
for voting on the proposed transaction. Shareholders will also be able to obtain a free copy of the proxy statement, as well as other
filings containing information about Alberton without charge, at the SEC’s website (www.sec.gov) or by calling 1-800-SEC-0330. Copies
of the proxy statement and other filings with the SEC can also be obtained, without charge, by directing a request to: Alberton Acquisition
Corporation, Room 1001, 10/F, Capital Center, 151 Gloucester Road, Wanchai, Hong Kong.
Cautionary Note Regarding Forward-Looking
Statements
This press release includes
“forward-looking statements” that involve risks and uncertainties that could cause actual results to differ materially from
what is expected. Words such as “expects”, “believes”, “anticipates”, “intends”, “estimates”,
“seeks”, “may”, “might”, “plan”, “possible”, “should” and variations
and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean
that a statement is not forward-looking. Such forward-looking statements relate to future events or future results, based on currently
available information and reflect Alberton management’s current beliefs. A number of factors could cause actual events or results
to differ materially from the events and results discussed in the forward-looking statements. In addition, please refer to the “Cautionary
Note Regarding Forward-Looking Statements,” “Risk Factors” and “Management’s Discussion and Analysis of
Financial Condition and Results of Operations” sections of Alberton’s Form S-4, its Annual Reports on Form 10-K, its Quarterly
Reports on Form 10-Q for additional information identifying important factors that could cause actual results to differ materially from
those anticipated in the forward looking statements. Except as expressly required by applicable securities law, Alberton disclaims any
intention or obligation to update or revise any forward looking statements whether as a result of new information, future events or otherwise.
Company Contact:
Gateway Group, Inc.
ALAC@gatewayir.com