Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On June 1, 2022, TB SA Acquisition Corp (the "Company") received a deficiency
letter from The Nasdaq Stock Market LLC ("Nasdaq") indicating that it was not in
compliance with Section 5250(c) of Nasdaq Rules regarding the Qualification,
Listing and Delisting of Companies (the "Nasdaq Listing Rules") as a result of
its failure to timely file its Quarterly Report on Form 10-Q for the period
ended March 31, 2022 (the "Form 10-Q") with the Securities and Exchange
Commission (the "SEC") through the SEC's EDGAR System.
On May 16, 2022, the Company filed Notification of Late Filing on Form 12b-25
(the "Form 12b-25"), indicating that the filing of its Form 10-Q will be
delayed. Although the Company has dedicated significant resources to the
completion of finalizing its financial statements and related disclosures for
inclusion in the Form 10-Q, the Company was unable to complete and file the Form
10-Q prior to May 21, 2022, the extension period provided by the Form 12b-25.
Additional time is needed by the Company to complete its review of the financial
statements included in the Form 10-Q in order to ensure a complete, accurate
Quarterly Report.
Under the Nasdaq Listing Rules, the Company has 60 calendar days from the date
of the deficiency letter to submit to Nasdaq a plan to regain compliance with
the Nasdaq Listing Rules. As required by the Nasdaq Listing Rules, on June 9,
2022, the Company issued a press release regarding the matters described in this
Item 3.01. A copy of the press release is included as Exhibit 99.1 to this
Current Report and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit
No. Description
99.1 Press Release, dated June 9, 2022
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
1
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses
TB SA ACQUISITION CORP 
