Business Context and Reporting Period
This Form 8-K was filed by Verra Mobility Corporation on December 5, 2018. The Company, formerly Gores Holdings II, Inc., consummated a business combination on October 17, 2018, and subsequently began trading its Class A Common Stock on the Nasdaq Capital Market under the symbol "VRRM."
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on a listing status update regarding the Company's warrants.
Material Changes
On December 5, 2018, the Company received notice from the Nasdaq Listing Qualifications Department that its warrants (trading under the symbol "VRRMW") failed to meet the minimum requirement of 400 round lot holders for initial listing under Listing Rule 5515(a)(4). Consequently, the warrants are scheduled for delisting from Nasdaq and will be suspended at the opening of business on December 14, 2018. The listing of the Company's common stock ("VRRM") remains unaffected.
Guidance, Outlook, and Management Commentary
Management has stated that the Company does not intend to appeal Nasdaq's determination regarding the warrants. A Form 25-NSE will be filed with the SEC to formally remove the warrants from listing and registration on Nasdaq. The filing contains no financial guidance, risk factors, or discussion of unusual items beyond the warrant delisting.
Investor Verification Checklist
- Confirm the suspension date of the warrants (VRRMW) is December 14, 2018.
- Verify that the common stock (VRRM) remains listed and trading on Nasdaq.
- Check for the subsequent filing of Form 25-NSE to confirm the official removal of warrants.
- Review the number of round lot holders for the warrants to understand the cause of the delisting.