UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
As previously disclosed, on August 15, 2023, Polished.com Inc. (the “Company”) received a notice from the staff of NYSE Regulation (the “Staff”), on behalf of NYSE American LLC (the “Exchange”), of the Staff’s determination to commence proceedings to delist the Company’s warrants, each exercisable for one share of the Company’s common stock (the “Warrants”; ticker symbol POL WS), from the Exchange. On August 21, 2023, the Company requested, in accordance with the Exchange Company Guide Section 1203, that a Listing Qualifications Panel (the “Panel”) of the Exchange’s Committee for Review be convened to review the Staff’s determination. The Panel convened to consider written submissions made by the Company and the Staff on October 5, 2023.
On October 11, 2023, the Company received a letter from the Exchange indicating that the Panel determined to affirm the Staff’s decision to initiate delisting proceedings of the Warrants.
The Company has a right to a review of this determination by the full Committee for Review. The Exchange will apply to the Securities and Exchange Commission (the “SEC”) to delist the Warrants upon completion of all applicable procedures, including any appeal by the Company of the Panel’s decision. The Company does not currently intend to appeal the determination.
The delisting of the Warrants has no impact with respect to trading of the Company’s common stock (ticker symbol POL), which will continue on the Exchange. The Warrants may be traded on the pink sheets or any other available market once trading in the Warrants has been suspended by the Exchange.
Forward-Looking Statements
This Current Report on Form 8-K contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this Current Report on Form 8-K are forward-looking statements. Forward-looking statements contained in this Current Report on Form 8-K may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will”, “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the Company’s control and which could materially affect results. Factors that may cause actual results to differ materially from current expectations include, among other things, those described more fully in the section titled “Risk Factors” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 and the Company’s other reports filed with the SEC. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.
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SIGNATURES
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.
| By: | /s/ Robert D. Barry | |
| Name: | Robert D. Barry | |
| Title: | Interim Chief Financial Officer and Secretary |
Dated: October 17, 2023
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