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NYSE to Commence Delisting Proceeding Against Everest Consolidator Acquisition Corporation (MNTN)

1. NYSE Regulation will delist Everest Consolidator Acquisition Corporation's securities. 2. MNTN's Class A shares, units, and warrants are affected by the delisting. 3. Delisting occurs as the company failed to complete a business combination. 4. A review process is available for the company's appeal against this decision.

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FAQ

Why Very Bearish?

Delisting usually leads to a significant decline in stock prices, as seen with other failed SPACs.

How important is it?

Delisting has crucial implications for MNTN's market access and investor confidence.

Why Short Term?

The immediate effect is likely felt in the short-term market reaction post-announcement.

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MNTNMNTN.UMNTN WS
NEW YORK--(BUSINESS WIRE)--The New York Stock Exchange (“NYSE”, the “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the three securities enumerated below (“Securities”) of Everest Consolidator Acquisition Corporation (the “Company”) from the Exchange. Trading in the Company’s Securities will be suspended immediately. Symbol Description MNTN Class A common stock, par value $0.0001 per share MNTN.U Units, each consisting of one share of Class A common stock and one-half of one Warrant MNTN WS Warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50 per share NYSE Regulation reached its decision to delist the Company’s Securities pursuant to Sections 802.01B and 102.06e. of the NYSE’s Listed Company Manual because the Company failed to consummate a business combination within the shorter of (i) the time period specified by its constitutive documents or by contract or (ii) three years. The Company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the Securities and Exchange Commission to delist the Company’s Securities upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision.

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