Claritev Corp current report, 02 January 2024

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Form 8-K Summary

Registrant: MultiPlan Corporation, although the request metadata identifies Claritev Corp. The filing is dated January 3, 2024, with the earliest reported event on January 2, 2024.

Business Context and Reporting Period

This current report under Item 3.01 addresses the continued listing status of the company’s publicly traded warrants. It does not report quarterly or annual operating results.

Key Financial and Capital Markets Information

  • The filing provides no revenue, profit, cash flow, margin, debt, liquidity, or other operating financial metrics.
  • The affected securities are warrants exercisable for one share of Class A common stock at an exercise price of $11.50 per share, traded under the symbol MPLN.WS.
  • The Class A common stock trades under the symbol MPLN.

Material Changes and Listing Status

  • On January 2, 2024, the NYSE notified the company that it had determined to commence proceedings to delist the warrants.
  • The NYSE immediately suspended trading in the warrants because of “abnormally low” trading price levels under Section 802.01D of the NYSE Listed Company Manual.
  • The company does not intend to appeal the NYSE determination.
  • Trading in the company’s Class A common stock is unaffected and will continue on the NYSE.

Outlook, Risks, and Unusual Items

The warrant delisting and trading suspension may reduce liquidity and market access for holders of the warrants. The filing provides no additional management guidance, financial outlook, contingency analysis, or estimate of financial impact.

Important Facts to Verify

  • Confirm the registrant’s current corporate name, because the filing identifies MultiPlan Corporation while the request metadata identifies Claritev Corp.
  • Verify the status and effective date of the NYSE warrant delisting proceedings and any subsequent trading venue or quotation availability.
  • Confirm that the MPLN common stock listing remains active and unaffected.
  • Review any subsequent filings for the financial or accounting effects of the warrant suspension or delisting.