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OFFON

BETTER WORLD ACQUISITION CORP.

(BWAC)
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BETTER WORLD ACQUISITION CORP. : Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing, Other Events, Financial Statements and Exhibits (form 8-K)

04/22/2021 | 04:20pm EST

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

As previously disclosed in the Current Report on Form 8-K filed on April 15, 2021 by Better World Acquisition Corp. (the "Company"), on April 12, 2021, the staff (the "Staff") of the Division of Corporation Finance of the Securities and Exchange Commission (the "SEC") issued a statement entitled "Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies" (the "Staff Statement"). The Staff Statement, among other things, highlighted the potential accounting implications of certain terms that are common in warrants issued in connection with the initial public offerings of special purpose acquisition companies ("SPAC") such as the Company. The Company is continuing to evaluate its financial statements for the year ended December 31, 2020 to determine whether its public and private warrants may be required to be accounted for as liabilities, rather than equity, in its Annual Report on Form 10-K for the year ended December 31, 2020 (the "Form 10-K"). The Company is working diligently to finalize the financial statements and to file the Form 10-K as soon as practicable.

On April 16, 2021, the Company received a notice (the "Notice") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") stating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) (the "Rule") because it has not timely filed the Form 10-K with the SEC. The Rule requires listed companies to timely file all required periodic financial reports with the SEC.

Under Nasdaq rules, the Company has 60 calendar days from the date of the Notice, or until June 15, 2021, to submit a plan to regain compliance with the Rule. If Nasdaq accepts the Company's plan, then Nasdaq may grant an exception of up to 180 calendar days from the due date of the Form 10-K, or until October 12, 2021, to regain compliance. However, there can be no assurance that Nasdaq will accept the Company's plan to regain compliance or that the Company will be able to regain compliance within any extension period granted by Nasdaq. If Nasdaq does not accept the Company's plan, then the Company will have the opportunity to appeal that decision to a Nasdaq hearings panel.

The Notice has no immediate effect on the listing or trading of the Company's securities. However, if the Company fails to timely regain compliance with the Rule, the Company's securities will be subject to delisting from the Nasdaq Capital Market.



Item 8.01. Other Events.



On April 22, 2021, the Company issued a press release announcing its receipt of the Notice. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits




(d) Exhibits



Exhibit
Number    Title
99.1        Press Release, dated April 22, 2021




                                       1

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Financials (USD)
Sales 2020 - - -
Net income 2020 -10,1 M - -
Net cash 2020 1,02 M - -
P/E ratio 2020 -
Yield 2020 -
Capitalization 163 M 163 M -
EV / Sales 2019
EV / Sales 2020 -
Nbr of Employees -
Free-Float 80,4%
Chart BETTER WORLD ACQUISITION CORP.
Duration : Period :
Better World Acquisition Corp. Technical Analysis Chart | BWAC | US08772B1044 | MarketScreener
Income Statement Evolution
Managers and Directors
Rosemary L. Ripley Chairman, President & Chief Executive Officer
Peter S. H. Grubstein Chief Financial Officer, Treasurer & Director
Brad S. Oberwager Independent Director
Kristopher A. Wood Independent Director
Jennifer Prosek Independent Director
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