Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On January 11, 2023, SVF Investment Corp. (the "Company") received a notice from
The Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company was deficient
in meeting the requirements of Listing Rule 5620(a), which requires the Company
to hold an annual meeting of shareholders no later than one year after the end
of the Company's 2021 fiscal year-end. In accordance with Nasdaq Listing Rule
5810(c)(2)(G), the Company has 45 calendar days (or until February 25, 2023)
(the "Compliance Period") to submit a plan to regain compliance and, if Nasdaq
accepts the plan, Nasdaq may grant the Company up to 180 calendar days from its
fiscal year end, or until June 29, 2023, to regain compliance. While the plan is
pending, the Company's securities will continue to trade on Nasdaq.
The Company anticipates that its Class A ordinary shares, par value $0.0001 (the
"Public Shares"), units and warrants will be delisted from Nasdaq prior to the
expiry of the Compliance Period in connection with the redemption of the Public
Shares (as further described in the press release dated January 12, 2023,
attached hereto as Exhibit 99.1). Accordingly, the Company does not intend to
submit a compliance plan within the Compliance Period.
Item 8.01. Other Events.
On January 12, 2023, the Company issued a press release announcing that as of
the close of business on January 27, 2023, the Public Shares will be deemed
cancelled and will represent only the right to receive their pro-rata share in
the Company's trust account, because the Company will not consummate an initial
business combination within the time period required by its Amended and Restated
Memorandum and Articles of Association.
The Company's sponsor has agreed to waive its redemption rights with respect to
its outstanding Class B ordinary shares issued prior to the Company's initial
public offering. There will be no redemption rights or liquidating distributions
with respect to the Company's warrants, which will expire worthless.
A copy of the press release is attached hereto as Exhibit 99.1 and is
incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
Exhibit
No. Description
99.1 Press release, dated January 12, 2023
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document).
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