NYSE to Suspend Trading Immediately in Kingswood Acquisition Corp. (KWAC) and Commence Delisting Proceedings

NEW YORK--(BUSINESS WIRE)--The New York Stock Exchange LLC (“NYSE” or “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the Class A common shares of Kingswood Acquisition Corp. (the “Company”) — ticker symbol KWAC — from the NYSE. Trading in the Company’s Class A common shares was suspended after market closed on the NYSE on July 13, 2022.

In addition, NYSE Regulation has also determined to immediately suspend trading and commence delisting proceedings with respect to the following securities that are listed on the NYSE.

Symbol	Description
KWAC U	Units, each consisting of one share of Class A common stock and three-fourths of one redeemable warrant
KWAC 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 Section 802.01B of the NYSE’s Listed Company Manual because the Company had fallen below the NYSE’s continued listing standard requiring a listed acquisition company to maintain an average aggregate global market capitalization of at least $50,000,000 and average aggregate global market capitalization attributable to its publicly-held shares of at least $40,000,000, in each case over a consecutive 30 trading day period.

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.