NEW YORK–(BUSINESS WIRE)–Mosaic Acquisition Corp. (NYSE: MOSC; the “Company”) today announced
that on October 3, 2018 the Company was notified by the New York Stock
Exchange (“NYSE”) that the Company is not in compliance with the NYSE’s
continued listing standard that requires all listed companies to have a
minimum of 300 public stockholders on a continuous basis. The NYSE
notification has no impact on the Company’s business operations.
Under the NYSE’s rules, the Company has 45 days to present a business
plan to the NYSE that demonstrates how the Company intends to cure the
deficiency within 18 months of the date of the NYSE notice. During this
18 month period, the Company’s ordinary shares will continue to be
traded on the NYSE, subject to the Company’s compliance with other NYSE
The Company will respond to the NYSE to confirm its intent to cure this
noncompliance. The Company expects that upon completion of its initial
business combination it will have at least 400 public stockholders. The
NYSE notification does not affect the Company’s Securities and Exchange
Commission reporting requirements.
About Mosaic Acquisition Corp.
Mosaic Acquisition Corp. is a special purpose acquisition company formed
by Mosaic Sponsor, LLC and Fortress Mosaic Sponsor LLC for the purpose
of effecting a merger, share exchange, asset acquisition, share
purchase, reorganization or similar business combination with one or
This press release may include, and oral statements made from time to
time by representatives of the Company may include, “forward-looking
statements” within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. Statements, other than statements of historical fact,
included in this press release are forward-looking statements. When used
in this press release, words such as “anticipate,” “believe,”
“continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,”
“plan,” “possible,” “potential,” “predict,” “project,” “should,” “would”
and similar expressions, as they relate to us or our management team,
identify forward-looking statements. Such forward-looking statements are
based on the beliefs of management, as well as assumptions made by, and
information currently available to, the Company’s management. Actual
results could differ materially from those contemplated by the
forward-looking statements as a result of certain factors detailed in
the Company’s filings with the Securities and Exchange Commission (“SEC”).
All subsequent written or oral forward-looking statements attributable
to us or persons acting on our behalf are qualified in their entirety by
this paragraph. Forward-looking statements are subject to numerous
conditions, many of which are beyond the control of the Company,
including those set forth in the Risk Factors section of the Company’s
registration statement and prospectus for the Company’s initial public
offering filed with the SEC. The Company undertakes no obligation to
update these statements for revisions or changes after the date of this
release, except as required by law.
Mosaic Acquisition Corp.
William H. Mitchell