Business Context and Reporting Period
This Form 8-K is filed by Avista Healthcare Public Acquisition Corp. (not Organogenesis Holdings Inc.) on January 4, 2018. The registrant is a Cayman Islands exempted company and an emerging growth company. The report addresses a regulatory compliance issue regarding its listing on The Nasdaq Stock Market.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses on corporate governance and listing status rather than financial performance.
Material Changes and Events
- NASDAQ Delisting Notice: The Company received notice from NASDAQ that it failed to comply with Listing Rules 5620(a) and 5810(c)(2)(G) because it did not hold an annual meeting of stockholders within twelve months of the fiscal year ended December 31, 2016.
- Compliance Deadline: The Company has 45 calendar days from January 5, 2018, to submit a plan to regain compliance.
- Proposed Business Combination: The Company announced a proposed business combination with Envigo International Holdings, Inc. on August 21, 2017. An annual general meeting will be held to approve this combination and elect directors.
Outlook, Risks, and Management Commentary
Management intends to submit a plan to NASDAQ to regain compliance within the allotted timeframe. If accepted, NASDAQ may grant an exception of up to 180 calendar days from the fiscal year end, extending the deadline to June 29, 2018. The primary risk is the potential delisting if the plan is not accepted or compliance is not achieved.
Investor Verification Checklist
- Verify the status of the proposed business combination with Envigo International Holdings, Inc.
- Confirm the date of the upcoming annual general meeting of shareholders.
- Monitor the submission and acceptance of the compliance plan by NASDAQ.
- Check for any subsequent filings regarding the outcome of the delisting notice.