E2open Parent Holdings, Inc. (NYSE: ETWO), a leading network-based provider of 100% cloud-based, mission-critical, end-to-end supply chain management software, today announced that it received notification from the New York Stock Exchange (“NYSE”) that it officially regained compliance with exchange listing requirements.
On April 12, 2021, the Division of Corporate Finance of the Securities and Exchange Commission (“SEC”) issued a “Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies,” clarifying the accounting guidance for warrants with terms that are common for special purpose acquisition companies (“SPACs”). The immediacy of the effective date of this new guidance generally resulted in audit firms not consenting to include their audit opinions in SEC filings until the new guidance was evaluated and reflected in an updated filing, which prevented E2open from filing an annual report that complied with SEC and NYSE rules by its extended filing deadline.
E2open received notification on April 23, 2021 from the NYSE of non-compliance due to the missed annual report filing. The annual report in question related to E2open’s predecessor, CC Neuberger Principal Holdings I, a SPAC, reflecting financial information for a fiscal period that ended prior to the business combination that closed on February 4, 2021.
On May 5, 2021, E2open filed the Annual Report on Form 10-K and was notified by the NYSE the same day that it regained compliance with its applicable continued listing requirements.
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