Zapata Computing Faces Delisting Notice
Ticker: ZPTAW · Form: 8-K · Filed: Jun 13, 2024 · CIK: 1843714
| Field | Detail |
|---|---|
| Company | Zapata Computing Holdings Inc. (ZPTAW) |
| Form Type | 8-K |
| Filed Date | Jun 13, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $11.50, $50 million |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-rules, compliance
Related Tickers: ZETA
TL;DR
Zapata Computing (ZETA) got a delisting warning - might be off the exchange soon.
AI Summary
Zapata Computing Holdings Inc. filed an 8-K on June 13, 2024, reporting a notice of delisting or failure to satisfy continued listing rules as of June 11, 2024. The company was formerly known as Andretti Acquisition Corp. and changed its name on February 1, 2021.
Why It Matters
This filing indicates potential issues with Zapata Computing's ability to remain listed on its current exchange, which could significantly impact its stock liquidity and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting directly threatens the company's public trading status, posing a significant risk to investors.
Key Players & Entities
- Zapata Computing Holdings Inc. (company) — Registrant
- Andretti Acquisition Corp. (company) — Former name
- June 11, 2024 (date) — Date of earliest event reported
- June 13, 2024 (date) — Filing date
FAQ
What specific listing rule or standard has Zapata Computing Holdings Inc. failed to satisfy?
The filing does not specify the exact listing rule or standard that Zapata Computing Holdings Inc. has failed to satisfy, only that a notice has been issued.
What is the effective date of the notice of delisting or failure to satisfy a continued listing rule?
The earliest event reported date is June 11, 2024, which is the date as of which the notice is effective.
When was Zapata Computing Holdings Inc. formerly known as Andretti Acquisition Corp.?
The company changed its name from Andretti Acquisition Corp. on February 1, 2021.
What is the company's primary business as indicated by its SIC code?
The company's Standard Industrial Classification (SIC) code is 7372, which corresponds to SERVICES-PREPACKAGED SOFTWARE.
Where is Zapata Computing Holdings Inc. incorporated and what is its principal business address?
Zapata Computing Holdings Inc. is incorporated in Delaware and its principal business address is 100 Federal Street, Floor 20, Boston, MA 02110.
Filing Stats: 727 words · 3 min read · ~2 pages · Grade level 14.1 · Accepted 2024-06-12 19:27:05
Key Financial Figures
- $0.0001 — ich registered Common Stock, par value $0.0001 per share ZPTA The Nasdaq Stock Mar
- $11.50 — mon Stock, each at an exercise price of $11.50 per share ZPTAW The Nasdaq Stock Ma
- $50 million — ities ("MVLS") was below the minimum of $50 million required for continued listing on The N
Filing Documents
- d837015d8k.htm (8-K) — 26KB
- 0001193125-24-160117.txt ( ) — 190KB
- wnnr-20240611.xsd (EX-101.SCH) — 4KB
- wnnr-20240611_def.xml (EX-101.DEF) — 14KB
- wnnr-20240611_lab.xml (EX-101.LAB) — 24KB
- wnnr-20240611_pre.xml (EX-101.PRE) — 15KB
- d837015d8k_htm.xml (XML) — 6KB
From the Filing
8-K 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 Date of Report (Date of earliest event reported): June 11, 2024 ZAPATA COMPUTING HOLDINGS INC. (Exact name of registrant as specified in its charter) Delaware 001-41218 98-1578373 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 100 Federal Street , Floor 20 Boston , MA 02110 (Address of principal executive offices including zip code) Registrant's telephone number, including area code: (844) 492-7282 Not Applicable (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: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol Name of each exchange on which registered Common Stock, par value $0.0001 per share ZPTA The Nasdaq Stock Market LLC Public warrants, each whole warrant exercisable for one share of Common Stock, each at an exercise price of $11.50 per share ZPTAW The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company 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. Item3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On June 11, 2024, Zapata Computing Holdings Inc. (the "Company") received a letter from the listing qualifications department staff of The Nasdaq Stock Market ("Nasdaq") notifying the Company that, for the last 30 consecutive business days, the Company's minimum Market Value of Listed Securities ("MVLS") was below the minimum of $50 million required for continued listing on The Nasdaq Global Market pursuant to Nasdaq listing rule 5450(b)(2)(A). The notice has no immediate effect on the listing of the Company's common stock or warrants, and the Company's common stock and warrants continue to trade on The Nasdaq Global Market and The Nasdaq Capital Market, respectively, under the symbols "ZPTA" and "ZPTAW", respectively. In accordance with Nasdaq listing rule 5810(c)(3)(C), the Company has 180 calendar days, or until December 9, 2024, to regain compliance. The notice states that to regain compliance, the Company's MVLS must close at $50 million or more for a minimum of ten consecutive business days during the compliance period ending December 9, 2024. The notice further states that, if the Company is unable to satisfy the MVLS requirement prior to such date, the Company may be eligible to transfer the listing of its common stock to The Nasdaq Capital Market, provided that the Company then satisfies the requirements for continued listing on that market. If the Company does not regain compliance by December 9, 2024, Nasdaq staff will provide written notice to the Company that its securities are subject to delisting. At that time, the Company may appeal any such delisting determination to a Nasdaq hearings panel. The Company intends to actively monitor the Company's MVLS between now and December 9, 2024, and may, if appropriate, evaluate available options to resolve the deficiency and regain compliance with the MVLS requirement. While the Company is exercising diligent efforts to maintain the listing of its securities on Nasdaq, there can be no assurance that the Company will be able to regain or maintain compliance with Nasdaq listing standards. 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ZAPATA COMPUTING HOLDINGS INC. By: /s/ Christopher Savoie Name: Christopher Savoie Title: Chief Executive Officer Date: June 12, 2024 3