Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
As previously disclosed on April 7, 2023, Pear Therapeutics, Inc. ("Pear" or the
"Company") and its wholly-owned direct subsidiary, Pear Therapeutics (US), Inc.
(together with the Company, the "Debtors"), each commenced a voluntary case
under chapter 11 of the United States Bankruptcy Code in the United States
Bankruptcy Court for the District of Delaware. The Debtors have requested that
the chapter 11 cases be jointly administered under the caption In re Pear
Therapeutics, Inc., et. al. (Case No. 23-10429).
On April 10, 2023, the Company received a formal written notice (the "Delisting
Notice") from the listing qualifications department staff of The Nasdaq Stock
Market ("Nasdaq") notifying the Company that, in accordance with Nasdaq Listing
Rules 5101, 5110(b), and IM-5101-1, the staff of Nasdaq has determined that the
Company's securities will be delisted from Nasdaq. In the Delisting Notice, the
staff of Nasdaq referenced the chapter 11 filing and associated public interest
concerns raised by it, concerns regarding the residual equity interest of the
existing listed securities holders, and concerns about the Company's ability to
sustain compliance with all requirements for continued listing on Nasdaq. The
Company does not intend to appeal the delisting determination.
Trading of the Company's Class A common stock will be suspended at the opening
of business on April 19, 2023 and a Form 25-NSE will be filed with the
Securities and Exchange Commission, which will remove the Class A common stock
from listing and registration on Nasdaq.
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses