Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
As previously disclosed, on October 13, 2022, Pine Island Acquisition Corp. (the
"Company") issued a press release announcing that (i) the Company would redeem
all of its outstanding shares of Class A common stock that were included in the
units issued in its initial public offering, effective as of the close of
business on October 28, 2022, because the Company will not consummate an initial
business combination within the time period required by its Amended and Restated
Certificate of Incorporation, and (ii) there will be no redemption rights or
liquidating distributions with respect to the Company's warrants, which will
expire worthless. Following such announcement, on October 14, 2022, the New York
Stock Exchange (the "NYSE") notified the Company, and publicly announced, that
the NYSE determined to commence proceedings to delist the Company's warrants
from the NYSE and that trading in the Company's warrants would be suspended
immediately, due to trading price levels pursuant to Section 802.01D of the NYSE
Listed Company Manual. As a result of the expected expiration of the warrants
described above, the Company does not intend to appeal the NYSE's determination.
Cautionary Statements Regarding Forward-Looking Statements
This Current Report on Form 8-K includes "forward-looking statements" within the
meaning of the safe harbor provisions of the U.S. Private Securities Litigation
Reform Act of 1995, as amended. Certain of these forward-looking statements can
be identified by the use of words such as "believes," "expects," "intends,"
"plans," "estimates," "assumes," "may," "should," "will," "seeks," or other
similar expressions. Such forward-looking statements are based on current
expectations as of the date of this Current Report on Form 8-K and involve a
number of risks and uncertainties that may cause actual results to differ
significantly. The Company does not assume any obligation to update or revise
any such forward-looking statements, whether as the result of new developments
or otherwise. Readers are cautioned not to put undue reliance on forward-looking
statements.
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