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OFFON

LEO HOLDINGS CORP. II

(LHC)
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LEO HOLDINGS CORP. II : Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing (form 8-K)

06/01/2021 | 04:35pm EDT

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

On May 25, 2021, Leo Holdings Corp. II (the "Company") received a notice from the New York Stock Exchange (the "NYSE") indicating that it is not in compliance with NYSE continued listing requirements under the timely filing criteria established in Section 802.01E of the NYSE Listed Company Manual as a result of its failure to timely file the Form 10-Q for the fiscal quarter ended March 31, 2021 (the "Form 10-Q").

On April 12, 2021, the staff of the Securities and Exchange Commission ("SEC") issued a public statement entitled "Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies ("SPACs")" (the "Statement'), which clarified guidance for all SPAC-related companies regarding the accounting and reporting for their warrants. The immediacy of the effective date of the new guidance set forth in the Statement has resulted in a significant number of SPACs re-evaluating the accounting treatment for their warrants with their professional advisors, including auditors and other advisors responsible for assisting SPACs in the preparation of financial statements. This, in turn, has resulted in the Company's delay in preparing and finalizing its financial statements as of and for the quarter ended March 31, 2021 and filing its Form 10-Q with the SEC by the prescribed deadline.

Under the NYSE's rules, the Company has six months following receipt of the notification of non-compliance to file the Form 10-Q with the SEC and can regain compliance with the NYSE listing standards before that deadline.

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Financials (USD)
Sales 2020 - - -
Net income 2020 -0,10 M - -
Net Debt 2020 0,16 M - -
P/E ratio 2020 -
Yield 2020 -
Capitalization 458 M 458 M -
EV / Sales 2019
EV / Sales 2020 -
Nbr of Employees -
Free-Float 80,0%
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Managers and Directors
Lyndon Lea President, Chief Executive Officer & Director
Robert Darwent Chief Financial Officer & Director
Edward Codd Forst Chairman
Lori H. Bush Independent Director
Mary Ellen Minnick Independent Director
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