UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 3.01. | Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
As previously disclosed in the Form 12b-25, Form 12b-25/A, and Form 8-K filed on March 30, 2022, April 15, 2022, and April 15, 2022 respectively by Fat Projects Acquisition Corp (the “Company”) with the Securities Exchange Commission (the “SEC”), as the Company had determined that it was unable, without unreasonable effort or expense, to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2021 (the “Form 10-K”), by the required due date of March 31, 2022 and April 15, 2022, respectively. The Company also announced that it expected to receive a letter 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 “Listing Rule”) because it had not timely filed the Form 10-K with the SEC. The Listing Rule requires listed companies to timely file all required periodic financial reports with the SEC.
In connection with the foregoing, on April 19, 2022, the Company received such letter (the “Notice”) from NASDAQ.
Under NASDAQ rules, the Company had 60 calendar days, or until June 18, 2022, to submit a plan to regain compliance with the Listing 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, 2022, to regain compliance. The Notice had no immediate effect on the listing or trading of the Company’s securities. However, if the Company had failed to timely regain compliance with the Listing Rule, the Company’s securities would have been subject to delisting from the NASDAQ Capital Market.
The Company filed the 2021 Form 10-K on April 28, 2022 and, by letter dated April 29, 2022, received a letter from NASDAQ that the Company has regained compliance with this Listing Rule (the “Compliance Letter”).
| Item 8.01. | Other Events. |
On May 2, 2022, the Company issued a press release announcing its receipt of the Notice and the Compliance Letter. 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 No. | Description | |
| 99.1 | Press Release Dated May 2, 2022 | |
| 104 | Cover Page Interactive Data File |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| FAT PROJECTS ACQUISITION CORP | ||
| Date: May 2, 2022 | By: | /s/ David Andrada |
| David Andrada | ||
| Co-Chief Executive Officer and Chief Financial Officer | ||