Form 8-K - Current report
11 March 2024 - 11:25PM
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): March 5, 2024
IRIS ACQUISITION CORP
(Exact name of registrant as specified in its charter)
Delaware |
|
001-40167 |
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85-3901431 |
(State or other jurisdiction
of incorporation) |
|
(Commission
File Number) |
|
(IRS Employer
Identification No.) |
3rd Floor Zephyr House
122 Mary Street, George
Town
PO Box 10085
Grand Cayman KY1-1001, Cayman Islands
(Address of principal executive
offices) (Zip Code)
Registrant’s telephone number,
including area code: 971 4 3966949
(Former name or former address, if changed since last report)
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:
¨ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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¨ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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¨ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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¨ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b)
of the Act:
Title of each class |
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Trading
Symbol(s) |
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Name of each
exchange on
which registered |
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Units, each consisting of one share of Class A Common Stock and one-fourth of one Redeemable Warrant |
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IRAAU |
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The Nasdaq Stock Market LLC |
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Class A Common Stock, par value $0.0001 per share |
|
IRAA |
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The Nasdaq Stock Market LLC |
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|
|
|
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Warrants, each exercisable for one share of Class A Common Stock $11.50 per share |
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IRAAW |
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The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth
company x
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 3.01 Notice of Delisting or Failure to Satisfy
a Continued Listing Rule or Standard; Transfer of Listing.
On March 5, 2024, Iris
Acquisition Corp (the “Company”) received a written notice (the “Notice”) from the Listing Qualifications Department
of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company has failed to comply with Nasdaq Listing Rule 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 IPO registration statement.
Pursuant to the Notice,
unless the Company timely requests a hearing before The Nasdaq Hearings Panel (the “Panel”), the Company’s securities
will be subject to suspension and delisting from The Nasdaq Capital Market at the opening of business on March 14, 2024, and a Form 25-NSE
will be filed with the Securities and Exchange Commission, which will remove the Company’s securities from listing and registration
on Nasdaq.
The Company intends to
timely request a hearing before the Panel to appeal the Notice received on March 5, 2024. A hearing request will stay the suspension of
trading on the Company’s securities, and the Company’s securities will continue to trade on The Nasdaq Capital Market until
the hearing process concludes and the Panel issues a written decision.
There can be no assurance
that the Panel will grant the Company’s request for a suspension of delisting or continued listing on The Nasdaq Capital Market.
Forward Looking Statements
Certain information contained
in this report consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that
involve risks, uncertainties and assumptions that are difficult to predict. Words such as “will,” “would,” “may,”
“intends,” “anticipates,” “potential,” and similar expressions, or the use of future tense, identify
forward-looking statements, but their absence does not mean that a statement is not forward-looking. Such forward-looking statements are
not guarantees of performance and actual actions or events could differ materially from those contained in such statements. For example,
there can be no assurance that Nasdaq will grant the Company any relief from delisting or that the Company can ultimately meet applicable
Nasdaq requirements for any such relief, that the Company will regain compliance with the Nasdaq Listing Rules in the future, or otherwise
meet Nasdaq compliance standards. The forward-looking statements contained in this report speak only as of the date of this report and
the Company undertakes no obligation to publicly update any forward-looking statements to reflect changes in information, events or circumstances
after the date of this report, unless required by law.
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.
|
IRIS ACQUISITION CORP |
Dated: March 11, 2024 |
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By: |
/s/ Sumit Mehta |
|
|
Name: Sumit Mehta |
|
|
Title: Chief Executive Officer |
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Entity File Number |
001-40167
|
Entity Registrant Name |
IRIS ACQUISITION CORP
|
Entity Central Index Key |
0001831874
|
Entity Tax Identification Number |
85-3901431
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
3rd Floor Zephyr House
|
Entity Address, Address Line Two |
122 Mary Street, George
Town
|
Entity Address, Address Line Three |
PO Box 10085
|
Entity Address, City or Town |
Grand Cayman
|
Entity Address, Country |
KY
|
Entity Address, Postal Zip Code |
KY1-1001
|
City Area Code |
971
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Local Phone Number |
4 3966949
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Units, each consisting of one share of Class A Common Stock and one-fourth of one Redeemable Warrant
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Trading Symbol |
IRAAU
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Security Exchange Name |
NASDAQ
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Common Class A [Member] |
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Document Information [Line Items] |
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Title of 12(b) Security |
Class A Common Stock, par value $0.0001 per share
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Trading Symbol |
IRAA
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Security Exchange Name |
NASDAQ
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Warrant [Member] |
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Document Information [Line Items] |
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Title of 12(b) Security |
Warrants, each exercisable for one share of Class A Common Stock $11.50 per share
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IRAAW
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Security Exchange Name |
NASDAQ
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