Announcement • Nov 12
Natural Order Acquisition Corp.(NasdaqCM:NOAC) dropped from NASDAQ Composite Index Natural Order Acquisition Corp. has been removed from NASDAQ Composite Index . Announcement • Nov 02
Nasdaq to Delist Natural Order Acquisition's Securities On November 1, 2022, Natural Order Acquisition Corp. (the ‘company’) announced that, due to its inability to consummate an initial business combination within the time period required by its Amended and Restated Certificate of Incorporation (‘Charter’), it intends to redeem all of the outstanding shares of common stock that were included in the units issued in its initial public offering (the ‘Public Shares’), at a per-share redemption price, including accrued interest (net of amounts withheld for taxes) of approximately $10.07 (the ‘Redemption Amount’), and thereafter will dissolve and liquidate in accordance with the Charter. The Company anticipates that the Public Shares, and associated units and warrants, will cease trading on the Nasdaq Stock Market (‘Nasdaq’) on November 10, 2022. As of the close of business on November 14, 2022, the Public Shares will be deemed cancelled and will represent only the right to receive the redemption amount. After November 14, 2022, the Company will cease all operations except for those required to wind up the Company's business. The Redemption Amount is expected to be paid within ten business days after November 14, 2022. The Company's initial stockholders, including the Company's sponsor, directors and each member of the Company's management team, have waived their redemption rights with respect to all founder shares held by them. There will be no redemption rights or liquidating distributions with respect to the Company's warrants, which will expire worthless. The Company expects that Nasdaq will file a Form 25 with the United States Securities and Exchange Commission (the ‘SEC’) to delist its securities. The Company thereafter expects to file a Form 15 with the SEC to terminate the registration of its securities under the Securities Exchange Act of 1934, as amended. Board Change • May 14
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Max Bazerman was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 
