Form 10-K / A Sarissa Capital Acquisit For: December 31


such a large number of publicly traded securities may adversely affect the price of our Class A common shares. In addition, the existence of registration rights may make our initial business combination more expensive or difficult. to conclude. Indeed, the shareholders of the target company can increase the participation they seek in the combined entity or request a larger cash consideration to compensate for the negative impact on the market price of our securities which is expected when the Securities held by our original shareholders or their authorized assignees are registered for resale.

General risk factors

Our search for a business combination, and any target businesses that we ultimately enter into a business combination with, may be significantly affected by the recent coronavirus. (COVID-19[FEMININE) l’épidémie et l’état des marchés de la dette et des actions.

le COVID-19[feminine épidémie a entraîné, et une épidémie importante d’autres maladies infectieuses pourrait entraîner, une crise sanitaire généralisée qui pourrait affecter négativement les économies et les marchés financiers dans le monde entier, et l’activité de toute entreprise cible potentielle avec laquelle nous concluons un regroupement d’entreprises pourrait être matériellement et lésés. De plus, nous pourrions ne pas être en mesure de réaliser un regroupement d’entreprises si des préoccupations persistantes concernant COVID-19[feminine continuer à restreindre les voyages, limiter la possibilité d’avoir des réunions avec des investisseurs potentiels ou le personnel, les vendeurs et les prestataires de services de la société cible ne sont pas disponibles pour négocier et conclure une transaction en temps opportun. La mesure dans laquelle COVID-19[feminine impacts notre recherche d’un regroupement d’entreprises dépendra des développements futurs, qui sont très incertains et imprévisibles, y compris les nouvelles informations qui pourraient émerger concernant la gravité de COVID-19[feminine et les actions à contenir COVID-19[feminine ou traiter son impact, entre autres. Si les perturbations causées par COVID-19[feminine ou d’autres questions d’intérêt mondial se poursuivent pendant une longue période de temps, notre capacité à réaliser un regroupement d’entreprises, ou les opérations d’une entreprise cible avec laquelle nous réaliserons finalement un regroupement d’entreprises, peuvent être gravement affectées. De plus, notre capacité à réaliser une transaction peut dépendre de notre capacité à mobiliser des capitaux propres et des financements par emprunt qui peuvent être affectés par COVID-19[feminine et d’autres événements, y compris en raison de la volatilité accrue du marché, de la diminution de la liquidité du marché et de l’indisponibilité du financement de tiers à des conditions acceptables pour nous ou pas du tout.

Nos bons de souscription sont comptabilisés comme des passifs et les changements de valeur de nos bons de souscription pourraient avoir une incidence importante sur nos résultats financiers.

Le 12 avril 2021, le directeur par intérim de la division du financement des sociétés et chef comptable par intérim de la SEC a publié une déclaration (la «                                                                                “             ]companies (?? SPAC ??). Specifically, the Statement focused on certain terms and settlement provisions which are similar to those contained in the Warrants Agreement, dated October 20, 2020, between the Company and Continental Stock Transfer & Trust Company, a New York company, as agent of the warrants, entered into in connection with the initial public offering of the Company (the ?? IPO ??). In light of the Declaration, the management of the Company has reassessed the accounting treatment (i) of the 6,666,667 redeemable warrants (the “public warrants ??) which were included in the units issued by the Company in its IPO and (ii) the 3,333,333 redeemable warrants (the “ sponsor warrants ”) that were issued to the sponsor of the company and the 666,667 warrants (collectively with the warrants and the Sponsor’s Warrants, “ Warrants ”) which were issued to Cantor Fitzgerald & Co., in each case as part of a private placement which closed at the same time as the ‘initial public offering, and decided to classify warrants as derivative liabilities measured at fair value, with changes in fair value at each period being recognized in income. Although the Company has not generated any operating income to date and will not generate any operating income until the completion of its initial business combination, at the earliest, the change in the fair value of the warrants is a non-cash charge and will be reflected in the Company’s statement of operations.

On May 19, 2021, the management of the Company, after consultation with the audit committee of the board of directors of the Company (the “audit committee ??), concluded that in light of the Declaration, it was appropriate to reformulate the previously published audited balance sheet (1) of the Company, dated October 23, 2020, included in form 8-K filed on October 29, 2020, and (2) the audited financial statements of the Company for the year ended December 31, 2020 and for the period August 12, 2020 (inception) to December 31, 2020, included in the annual report on Form 10-K which was filed on March 31, 2021 (relevant periods ??). In light of such restatement, these audited financial statements should no longer be relied on.

Historically, warrants have been reflected as a component of equity as opposed to liabilities on balance sheets and income statements did not include subsequent non-cash changes in the estimated fair value of warrants, based on our application of the Financial Accounting Standards Board. (?? FASB ??) Codification of accounting standards (?? ASC ??) Subject 815-40, Derivatives and hedging, contracts in the equity of the entity (?? ASC 815-40 ??). The views expressed in the Declaration were not consistent with the Company’s historical interpretation of the specific provisions of its Mandate Agreement and the Company’s application of ASC 815-40 to the Mandate Agreement. We have reassessed our accounting for warrants issued on October 23, 2020, in light of published opinions by SEC staff. Based on this revaluation, we have determined that warrants should be classified as liabilities measured at fair value at the time of issuance, with subsequent changes in fair value being presented in our statement of earnings each period. presentation of financial information.

In this Amendment No. 1 to the Annual Report on Form 10-K, we have taken the decision to reformulate the previously issued Form 10-K in order to correct the accounting treatment of the Company’s warrants.

In this Amendment # 1 to the Annual Report on Form 10-K, we have decided to rephrase the Annual Report on Form 10-K which was filed on March 31, 2021. See ?? Explicative note ?? above for more information. In addition, in this regard, management concluded that the Company’s disclosure controls and procedures were not in effect as at December 31, 2020. See Section 9A: “Controls and Procedures”. As a result, we have incurred unforeseen costs for accounting and legal fees related to or related to the restatement, and may be subject to additional risks and uncertainties related to the restatement, such as a negative impact on investor confidence in the accuracy. of our financial disclosures (or in SPACs or legacy SPACs in general), and may increase reputational risk to our business.

ARTICLE 1B. UNRESOLVED STAFF COMMENTS

Not applicable.

ARTICLE 2. OWNERSHIP

We maintain our main executive offices at 660 Steamboat Rd., Greenwich, CT 06830. This space is provided to us by Sarissa Capital Acquisition Sponsor LLC, our sponsor, for a monthly fee of $ 10,000. We consider our current office space, combined with other office space otherwise available to our executives, to be adequate for our current operations.

– 29 –


About Andrew Estofan

Check Also

LEGAL ACTIONS AGAINST ASTR, TASK and ABBV – Jakubowitz Law pursues shareholder claims

TO SEE OUR COMPLAINT, CLICK HERE TO SEE OUR VIDEO, CLICK HERE CLICK HERE TO …