The Ontario Securities Commission (OSC) has granted Silver Spike III Acquisition Corp. (the Filer) an order to cease being a reporting issuer in all Canadian jurisdictions where it previously held this status. This decision is based on the Filer’s application and the fact that it meets the criteria outlined in the relevant securities legislation.
Key points from the application include that the Filer is not an OTC reporting issuer, its securities are owned by fewer than 15 security holders in each Canadian jurisdiction and fewer than 51 worldwide, and its securities are not traded on any public marketplace. Additionally, the Filer is not in default of any securities legislation.
The decision was made under the authority of the Securities Act (Ontario) and in accordance with National Policy 11-206, which outlines the process for an issuer to cease being a reporting issuer. The OSC, acting as the principal regulator, determined that the Filer satisfied the necessary conditions to be granted the order sought.