HONG
KONG, Aug. 25, 2023 /PRNewswire/ -- Magnum
Opus Acquisition Limited (NYSE: OPA) ("Magnum Opus" or the
"Company") announces that on August 22,
2023, as a result of the Company's failure to timely file
with the Securities and Exchange Commission ("SEC") its Quarterly
Report on Form 10-Q for the quarter ended June 30, 2023 (the "June
2023 Form 10-Q"), it received a notice from the New York
Stock Exchange (the "NYSE") stating that the Company is not in
compliance with Section 802.01E of the NYSE Listed Company Manual
(the "NYSE Rules"). Under the NYSE Rules, the Company has six
months from the due date of the June
2023 Form 10-Q, or until February 21,
2024 (the "Deadline"), to file the June 2023 Form 10-Q. The Company can regain
compliance with the NYSE Rules at any time prior to the Deadline by
filing the June 2023 Form 10-Q. If
the Company fails to file the June
2023 Form 10-Q before the Deadline, the NYSE may grant, at
its sole discretion, an extension of up to six additional months
for the Company to regain compliance, depending on the specific
circumstances. The NYSE notice has no immediate effect on the
listing or trading of the Company's securities on the NYSE.
As previously disclosed by the Company in a Notification of Late
Filing on Form 12b-25 filed with the SEC on August 14, 2023, the Company was unable to file
its June 2023 Form 10-Q by its
original deadline without unreasonable effort or expense due to the
fact that the Company required additional time to complete its
financial statements and other disclosures in the June 2023 Form 10-Q. While the Company is working
diligently to complete the June 2023
Form 10-Q and plans to file the June
2023 Form 10-Q as soon as practicable, the exact timing of
the filing is uncertain at this moment.
About Magnum Opus
Magnum Opus Acquisition Limited is a special purpose acquisition
company sponsored by L2 Capital, a private investment firm. Magnum
Opus is a partnership of enterprise builders and public and private
market investment specialists with extensive experience operating
and investing throughout the business life cycle from founding,
scaling operations through public listing. Magnum Opus aims to
partner with public ready enterprises at the forefront of
convergence of consumption and technology. Magnum Opus' mission is
to support companies to realize their vision as they embark on
their journey into the public markets and face new opportunities,
challenges and stakeholders
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Certain of these forward-looking statements can be
identified by the use of words such as "believes," "expects,"
"intends," "plans," "estimates," "assumes," "may," "should,"
"will," "seeks," or other similar expressions. Such statements may
include, but are not limited to, statements regarding the Company's
ability to comply with SEC rules and the continued listing
requirements of the NYSE. These statements are based on current
expectations on the date of this press release and involve a number
of risks and uncertainties that may cause actual results to differ
significantly. The Company does not assume any obligation to update
or revise any such forward-looking statements, whether as the
result of new developments or otherwise. Readers are cautioned not
to put undue reliance on forward-looking statements.
Investor Relations Contact
ICR, LLC
Robin Yang
Email: ICR-TMT@icrinc.com
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SOURCE Magnum Opus Acquisition Limited