QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
(State or other jurisdiction of incorporation or organization) |
(Commission File Number) |
(IRS Employer Identification No.) |
(Address Of Principal Executive Offices) |
(Zip Code) |
Title of each class |
Trading |
Large |
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Non-accelerated filer |
☒ | Smaller reporting company | ||||
Emerging growth company |
Page |
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Item 1. |
1 |
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1 |
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2 |
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3 |
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4 |
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5 |
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Item 2. |
19 |
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Item 3. |
23 |
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Item 4. |
23 |
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Item 1. |
24 |
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Item 1A. |
24 |
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Item 2. |
24 |
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Item 3. |
24 |
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Item 4. |
24 |
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Item 5. |
25 |
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Item 6. |
25 |
Assets: |
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Current assets: |
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Cash |
$ | |||
Prepaid expenses |
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Total current assets |
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Investments held in Trust Account |
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Total Assets |
$ |
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Liabilities and Stockholders’ Equity (Deficit): |
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Current liabilities: |
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Accounts payable and accrued expenses |
$ | |||
Franchise tax payable |
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Total current liabilities |
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Derivative warrant liabilities |
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Deferred underwriting commissions |
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Total Liabilities |
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Commitments and Contingencies |
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Class A common stock, $ |
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Stockholders’ Equity/ (Deficit): |
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Preferred stock, $ |
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Class B common stock, $ |
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Additional paid-in capital |
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Accumulated deficit |
( |
) | ||
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Total stockholders’ equity/ (deficit) |
( |
) | ||
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Total Liabilities and Stockholders’ Equity/ (Deficit) |
$ |
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For the Three Months Ended September 30, 2021 |
For the Period From January 5, 2021 (inception) through September 30, 2021 |
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General and administrative expenses |
$ | $ | ||||||
General and administrative expenses - related party |
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Franchise tax expenses |
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Loss from operations |
( |
) | ( |
) | ||||
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Other income (expense) |
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Change in fair value of derivative warrant liabilities |
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Offering costs associated with derivative warrant liabilities |
( |
) | ||||||
Income from investments held in Trust Account |
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Total other income, net |
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Net income before income taxes |
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Income tax expense |
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Net income allocable to common shareholders |
$ | $ | ||||||
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Weighted average shares outstanding of Class A common stock |
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Basic and diluted net income (loss) per share, Class A |
$ | $ | ( |
) | ||||
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Weighted average shares outstanding of Class B common stock |
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Basic and diluted net income (loss) per share, Class B |
$ | $ | ( |
) | ||||
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Stockholders’ Equity (Deficit) |
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Total |
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Class A Common Stock subject to possible redemption |
Class B Common Stock |
Additional Paid-In |
Accumulated |
Stockholders’ |
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Shares |
Amount |
Shares |
Amount |
Capital |
Deficit |
Equity (Deficit) |
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Balance - January 5, 2021 (inception) |
$ |
$ |
$ |
$ |
$ |
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Issuance of Class B common stock to Sponsor |
— | — | — | |||||||||||||||||||||||||
Sale of units in initial public offering,less allocation to derivative warrant liabilities, gross |
— | — | — | — | — | |||||||||||||||||||||||
Offering costs |
— | ( |
) | — | — | — | — | — | ||||||||||||||||||||
Excess cash received over the fair value of private placement warrants |
— | — | — | — | — | |||||||||||||||||||||||
Deemed dividend to Class A stockholders |
— | — | — | ( |
) | ( |
) | ( |
) | |||||||||||||||||||
Net income |
— | — | — | — | — | |||||||||||||||||||||||
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Balance - March 31, 2021 |
— |
( |
) |
( |
) | |||||||||||||||||||||||
Net loss |
— | — | — | — | — | ( |
) | ( |
) | |||||||||||||||||||
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Balance - June 30, 2021 |
— |
( |
) |
( |
) | |||||||||||||||||||||||
Net income |
— | — | — | — | — | |||||||||||||||||||||||
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Balance - September 30, 2021 |
$ |
$ |
$ |
— |
$ |
( |
) |
$ |
( |
) | ||||||||||||||||||
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Cash Flows from Operating Activities: |
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Net income |
$ | |||
Adjustments to reconcile net income to net cash used in operating activities: |
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Change in fair value of derivative warrant liabilities |
( |
) | ||
Offering costs associated with derivative warrant liabilities |
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Income from investments held in Trust Account |
( |
) | ||
Changes in operating assets and liabilities: |
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Prepaid expenses |
( |
) | ||
Accounts payable and accrued expenses |
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Franchise tax payable |
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Net cash used in operating activities |
( |
) | ||
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Cash Flows from Investing Activities: |
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Cash deposited in Trust Account |
( |
) | ||
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Net cash used in investing activities |
( |
) | ||
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Cash Flows from Financing Activities: |
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Proceeds from issuance of Class B common stock to Sponsor |
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Proceeds from note payable to related party |
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Repayment of note payable to related party |
( |
) | ||
Proceeds received from initial public offering, gross |
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Proceeds received from private placement |
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Offering costs paid |
( |
) | ||
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Net cash provided by financing activities |
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Net change in cash |
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Cash - beginning of the period |
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Cash - end of the period |
$ |
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Supplemental disclosure of noncash activities: |
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Offering costs included in accrued expenses |
$ | |||
Deferred underwriting commissions |
$ | |||
Deemed dividend to Class A stockholders |
$ |
• |
Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets; |
• |
Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and |
• |
Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. |
For the Three Months Ended September 30, 2021 |
For the period from January 5, 2021 (inception) through September 30, 2021 |
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Basic and diluted net income (loss) per common share |
Class A |
Class B |
Class A |
Class B |
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Numerator: |
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Allocation of net income (loss), as adjusted |
$ |
$ |
$ ( |
$ ( |
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Denominator: |
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Basic and diluted weighted average common shares outstanding |
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Basic and diluted net income (loss), as adjusted, per common share |
$ |
$ |
$ ( |
$ ( |
For the Three Months Ended September 30, 2021 |
For the period from January 5, 2021 (inception) through September 30, 2021 |
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Net income (loss) as reported |
$ | $ | ||||||
Reconciliation Items: |
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Excess cash received over the fair value of private placement warrants |
— | ( |
) | |||||
Deemed dividend to Class A stockholders |
— | ( |
) | |||||
Allocation of net income (loss), as adjusted |
$ | $ ( |
) | |||||
in whole and not in part; |
• | at a price of $ |
• | upon a minimum of |
• | if, and only if, the last reported sale price of Class A common stock for any |
• | in whole and not in part; |
• | at $ |
• | if, and only if, the Reference Value equals or exceeds $ |
• | if the Reference Value is less than $ |
Description |
Quoted Prices in Active Markets (Level 1) |
Significant Other Observable Inputs (Level 2) |
Significant Other Unobservable Inputs (Level 3) |
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Assets: |
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Investments held in Trust Account - Money market fund |
$ | $ | — | $ | — | |||||||
Liabilities: |
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Derivative warrant liabilities - Public warrants |
$ | $ | — | $ | — | |||||||
Derivative warrant liabilities - Private placement warrants |
$ | — | $ | $ | — |
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Exercise price |
$ | |||
Stock price |
$ | |||
Volatility |
% | |||
Term |
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Risk-free rate |
% |
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Derivative warrant liabilities measured with level 3 inputs at March 3, 2021 (inception) |
$ | |||
Issuance of Public and Private Warrants |
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Change in fair value of derivative warrant liabilities |
( |
) | ||
|
|
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Derivative warrant liabilities measured with level 3 inputs at March 31, 2021 |
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Transfer of Public Warrants to Level 1 |
( |
) | ||
Transfer of Private Placement Warrants to Level 2 |
( |
) | ||
|
|
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Derivative warrant liabilities measured with level 3 inputs at September 30, 2021 |
$ | — | ||
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* | These certifications are furnished to the SEC pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing. |
Dated: |
RXR ACQUISITION CORP. | |||||
By: | /s/ Scott Rechler | |||||
Name: | Scott Rechler | |||||
Title: | Chief Executive Officer and Chairman |
EXHIBIT 31.1
CERTIFICATION
PURSUANT TO RULES 13a-14(a) AND 15d-14(a)
UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS ADOPTED PURSUANT TO
SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002
I, Scott Rechler, certify that:
1. | I have reviewed this Quarterly Report on Form 10-Q for the quarter
ended |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
4. | The registrants other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have: |
a. | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
b. | [Paragraph omitted pursuant to SEC Release Nos. 33-8238/34-47986 and 33-8392/34-49313]; |
c. | Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
d. | Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter (the registrants fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and |
5. | The registrants other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent functions): |
a. | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize and report financial information; and |
b. | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal controls over financial reporting. |
Date: |
By: | /s/ Scott Rechler | ||||
Scott Rechler | ||||||
Chief Executive Officer and Chairman of the Board of Directors | ||||||
(Principal Executive Officer) |
27
EXHIBIT 31.2
CERTIFICATION
PURSUANT TO RULES 13a-14(a) AND 15d-14(a)
UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS ADOPTED PURSUANT TO
SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002
I, Michael Maturo, certify that:
1. | I have reviewed this Quarterly Report on Form 10-Q for the quarter
ended |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
4. | The registrants other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have: |
a. | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
b. | [Paragraph omitted pursuant to SEC Release Nos. 33-8238/34-47986 and 33-8392/34-49313]; |
c. | Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
d. | Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter (the registrants fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and |
5. | The registrants other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent functions): |
a. | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize and report financial information; and |
b. | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal controls over financial reporting. |
Date: |
By: | /s/ Michael Maturo | ||||
Michael Maturo | ||||||
Chief Financial Officer | ||||||
(Principal Financial and Accounting Officer) |
28
EXHIBIT 32.1
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
In connection with the Quarterly Report of RXR Acquisition Corp. (the Company) on Form 10-Q for the
quarter ended
(1) | the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and |
(2) | the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. |
Date:
/s/ Scott Rechler | ||
Name: | Scott Rechler | |
Title: | Chief Executive Officer and Chairman of the Board of Directors | |
(Principal Executive Officer) |
29
EXHIBIT 32.2
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
In connection with the Quarterly Report of RXR Acquisition Corp. (the Company) on Form 10-Q for the
quarter ended
(1) | the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and |
(2) | the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. |
Date:
/s/ Michael Maturo | ||
Name: | Michael Maturo | |
Title: | Chief Financial Officer | |
(Principal Financial and Accounting Officer) |
30