BRIEF-American Virtual Cloud Says Co & Two Subsidiaries Filed Voluntary Petitions Under Chapter 11

Reuters2023-01-11

Jan 11 (Reuters) - American Virtual Cloud Technologies Inc :

* AMERICAN VIRTUAL CLOUD - CO & TWO SUBSIDIARIES, AVCTECHNOLOGIES USA, INC. AND KANDY COMMUNICATIONS, LLC FILED VOLUNTARY PETITIONS UNDER CHAPTER 11

* AMERICAN VIRTUAL CLOUD -DEBTORS HAVE FILED MOTION WITH COURT SEEKING JOINT ADMINISTRATION OF CASES UNDER CAPTION IN RE AMERICAN VIRTUAL CLOUD., ET AL.

* AMERICAN VIRTUAL CLOUD- DETERMINED IT IS MOST BENEFICIAL TO CONTINUE TO REVIEW ITS STRATEGIC OPTIONS, WHICH MAY INCLUDE A PROCESS TO SELL ITS ASSETS

* AMERICAN VIRTUAL CLOUD TECHNOLOGIES INC - ON JANUARY 6, GOT NOTICE FROM NASDAQ NOTIFYING THAT CO DID NOT SATISFY CERTAIN CONTINUED LISTING REQUIREMENT

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