8-K Summary
Business Context and Reporting Period
The filing is a Current Report on Form 8-K filed by KINS Technology Group Inc. The event occurred on January 9, 2023, and the report was filed on January 11, 2023. The provided metadata identifies the company as Cxapp Inc., but the filing names KINS Technology Group Inc. as the registrant.
Material Event
On January 9, 2023, Nasdaq notified the Company that it failed to hold an annual meeting of stockholders within 12 months after the fiscal year ended December 31, 2021, as required by Nasdaq Listing Rule 5620(a).
- The Company has until February 23, 2023, to submit a plan to regain compliance.
- If Nasdaq accepts the plan, Nasdaq may grant an extension of up to 180 calendar days from the applicable fiscal year-end, or until June 29, 2023, to regain compliance.
- The Company stated that it intends to submit a compliance plan within the specified period.
- While the plan is pending, the Company’s securities are expected to continue trading on Nasdaq.
Financial Metrics and Liquidity
This filing does not provide revenue, profit, cash flow, margins, debt, liquidity, or other financial performance metrics.
Guidance, Risks, and Unusual Items
The principal risk is potential failure to submit an acceptable compliance plan or regain compliance with Nasdaq Listing Rule 5620(a), which could result in further listing consequences. The filing also incorporates general risks described in the Company’s Form 10-K for the year ended December 31, 2021 and other SEC filings.
Statements regarding submission of the compliance plan and regaining compliance are forward-looking statements and are subject to uncertainty. The Company disclaims any obligation to update these statements.
Investor Verification Items
- Verify the correct registrant, because the request metadata identifies Cxapp Inc. while the filing identifies KINS Technology Group Inc.
- Confirm whether the Company submitted its compliance plan by February 23, 2023.
- Confirm Nasdaq’s response and whether compliance was regained by June 29, 2023.
- Review subsequent SEC filings for any delisting notice, extension, annual meeting date, or changes in Nasdaq trading status.