UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 26, 2024
PERCEPTION CAPITAL CORP. III
(Exact name of registrant as specified in its charter)
| Cayman Islands | | 001-40639 | | 98-1592069 |
(State or other jurisdiction of
incorporation or organization) | | (Commission
File Number) | | (I.R.S. Employer
Identification Number) |
3109 W 50th St, #207
Minneapolis, MN | | 55410 |
| (Address of principal executive offices) | | (Zip Code) |
(212) 380-5605
Registrant’s telephone number, including area code
(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 to the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | 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: | | Trading Symbol: | | Name of Each Exchange on Which Registered: |
| Units, each consisting of one Class A ordinary share, $0.0001 par value, and one-third of one redeemable warrant | | PFTAU | | The NASDAQ Stock Market LLC |
| Class A ordinary shares included as part of the units | | PFTA | | The NASDAQ Stock Market LLC |
| Redeemable warrants included as part of the units, each whole warrant exercisable for one Class A Ordinary Share at an exercise price of $11.50 | | PFTAW | | 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 ☒
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 August 26, 2024, Perception Capital Corp. III (the “Company”) received written notice (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company is delinquent in filing its Quarterly Report on Form 10-Q for the period ended June 30, 2024 (the “Form 10-Q”), which may serve as an additional basis for the delisting of the Company’s securities from Nasdaq. As a result, the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires listed companies to timely file all required periodic financial reports with the U.S. Securities and Exchange Commission (the “SEC”). The Company previously filed a Form 12b-25 with the SEC on August 15, 2024, disclosing that it was unable to file the Form 10-Q within the prescribed time period without unreasonable effort or expense. Under Nasdaq rules, a company that receives a delist determination for delinquency, can request an appeal to a Nasdaq Hearings Panel (the “Hearings Panel”). A request for a hearing regarding a delinquent filing will stay the suspension of the Company’s securities for a period of 15 days from the date of the request. Since the Company is already before a Hearings Panel for its failure to achieve a business combination in 36 months, the Notice provided that the Company has until September 3, 2024 to request a stay of the suspension, pending a Hearing Panels decision.
On August 28, 2024, the Company filed the Form 10-Q with the SEC, therefore, curing the deficiency outlined in the Notice.
As required under Nasdaq Listing Rule 5810(b), the Company issued a press release on August 28, 2024, announcing that it had received the Notice. A copy of this press release is attached as Exhibit 99.1 to this Form 8-K.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits:
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: August 28, 2024 | PERCEPTION CAPITAL CORP. III |
| | | |
| | By: | /s/ Rick Gaenzle |
| | Name: | Rick Gaenzle |
| | Title: | Chief Executive Officer |
