Current Report Filing (8-k)
August 09 2021 - 4:26PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
August 6, 2021
Date of Report (Date of earliest event reported)
GREENCITY ACQUISITION CORPORATION
(Exact name of registrant as specified in its charter)
Cayman Islands
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001-39404
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n/a
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(State or other jurisdiction
of incorporation)
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(Commission File Number)
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(I.R.S. Employer
Identification No.)
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505 Eshan Road, Floor 6,
Pudong New District, Shanghai, China
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200120
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(Address of principal executive offices)
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(Zip Code)
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Registrant’s telephone number, including
area code: (+86) 21-20257919
N/A
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
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Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities
Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company x
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Securities registered pursuant to Section 12(b)
of the Act:
Title of each class
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Trading Symbol(s)
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Name of each exchange on which
registered
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Units, each consisting of one ordinary share, par value $0.001,
one redeemable warrant to purchase one-half ordinary share
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GRCYU
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The Nasdaq Stock Market LLC
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Ordinary Share
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GRCY
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The Nasdaq Stock Market LLC
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Redeemable warrants, each warrant exercisable
for one-half ordinary share
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GRCYW
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The Nasdaq Stock Market LLC
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Item 3.01. Notice of Delisting or Failure
to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On June 10, 2021, the Company
received a notice (the “Notice”) from the Nasdaq Stock Market LLC (“Nasdaq”) indicating that Greencity Acquisition
Corporation (the “Company”) is not in compliance with Nasdaq Listing Rule 5250(c)(1) (“Rule 5250(c)(1)”) because
the Company did not timely file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 (the “Form 10-Q”) with
the Securities and Exchange Commission (the “SEC”). The Notice has no immediate effect on the listing of the Company’s
stock on Nasdaq, and it states that the Company is required to submit a plan to regain compliance with Rule 5250(c)(1) within 60 calendar
days from the date of the Notice. If the plan is accepted by Nasdaq, then Nasdaq can grant the Company up to 180 calendar days from the
due date of the Form 10-Q to regain compliance.
As reported by the Company
in its Form 12b-25 filed with the Securities and Exchange Commission (the “SEC”) on May 17, 2021, the Company was unable to
file its Form 10-Q within the prescribed time period without unreasonable effort or expense.
On July 26, 2021, the Company
filed the Form 10-Q.
On August 9, 2021, the Company
issued a press release announcing that it has regained compliance with Rule 5250(c)(1) following its receipt of the Notice from Nasdaq
on August 6, 2021. A copy of that press release is attached to this Form 8-K as Exhibit 99.1 hereto.
Item 5.02 Departure of Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 9, 2021, Mr. Jianmin
Yu resigned as Chief Financial Officer of the Company. Mr. Yu’s resignation was for personal reasons and was not due to any disagreement
with the Company. On August 9, 2021, the board of directors of the Company (the “Board”) appointed Ms. Panyan Yu to serve
as the Chief Financial Officer of the Company, effective immediately.
Ms. Panyan Yu, age 30, has
been a certified public accountant since May 2020 in Shanghai Pujiang Certified Public Accountants, which focuses on corporate and government
audit. From March 2019 to April 2020, Ms. Yu served as a Senior Investment Manager at Tojoy Holding, which focuses on investment and post-investment
management. From July 2017 to March 2018, Ms. Yu joined Datong Securities, which focuses on IPO, re-finance and bond issuance. Ms. Yu
received her bachelor degree from The University of Nottingham, Ningbo China, and was licensed as a CPA since 2016. Ms. Yu’s professional
career over pass eight years has been in accounting and investment management roles at both Chinese and foreign companies. We believe
Ms. Yu is well qualified to serve as our Chief Financial Officer because of her extensive experience and strong expertise in finance and
investment.
On August 9, 2021, Mr. Yong
Li resigned as a director of the Company. Mr. Li’s resignation was for personal reasons and was not due to any disagreement with
the Company. On August 9, 2021, the Board appointed Anxin Wang to serve as a member of the Board and a member of the audit committee and
compensation committee, and as chairman of the audit committee of the Board, effective immediately.
Dr. Anxin Wang, age 46, has
served as General Manager of Strategic Development Division of Zhenyan Asset Management Company, in China since July 2020. From March
2018 to July 2020, Dr. Wang served as the Chairman of the Investment and Financing Committee of Deepblue Technology Company in China.
From February 2017 to February 2018, Dr. Wang served as Director of Industry Research in Pengxin Global Resource Company, a listed company
in China (stock code:600470). From April 2016 to February 2017, Dr. Wang served as senior director of Strategic Development Center of
Xiexin Holding Group in China. From June 2014 to April 2016, Dr. Wang served as General Manager of Research and Development Center of
Zhongtai Trust Company Ltd. Dr. Wang received his Bachelor of Economics degree from Shanghai University in 1998, Master of Financial degree
from East China Normal University in 2001, and Doctor of Financial degree from Fudan University in 2006. We believe Dr. Wang is well qualified
to serve on our board of directors and Chairman of Audit Committee because of his extensive business and management experience in China.
There are no family relationships
between Ms. Yu, Dr. Wang and any director, executive officer, or person nominated or chosen by the Company to become an executive officer
of the Company. There are no transactions between the Company and Ms. Yu as well as Dr. Wang that are subject to disclosure under Item
404(a) of Regulation S-K.
Item 8.01. Other Events.
On August 9, 2021, the Company
issued a press release announcing that it has regained compliance with Rule 5250(c)(1) following its receipt of the Notice. A copy of
that press release is attached to this Form 8-K as Exhibit 99.1 hereto.
Item 9.01. Financial Statements and Exhibits.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this Report on Form 8-K to be signed on its behalf as of August 9, 2021 by the undersigned
hereunto duly authorized.
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Greencity Acquisition Corporation
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By:
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/s/ Jinlong Liu
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Jinlong Liu
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Chief Executive Officer
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