Jaws Mustang Acquisition Corp

Jaws Mustang Acquisition Corporation (the “Company”) has determined that it is unable to file, without unreasonable effort and expense, its Annual Report on Form 10-K (the “Form 10-K”) for the fiscal year ended December 31, 2023 within the prescribed time period because the Company requires additional time to finalize its financial statements to be included in its Form 10-K. The Company is working diligently to complete its Form 10-K as soon as practicable and expects to file the Form 10-K prior to the end of the 15-day extension period

JAWS Mustang Acquisition Corporation (the “ Company ”) has determined that it is unable, without unreasonable effort or expense, to file its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2021 (the “ Q1 2021 Form 10-Q ”) by the prescribed due date for the reasons described below. On April 12, 2021, the Staff of the U.S. Securities and Exchange Commission (the “ SEC ”) issued the “Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies (“ SPACs ”)” (the “ SEC Statement ”), which clarified guidance for all SPAC-related companies regarding the accounting and reporting for their warrants. Following review of the SEC Statement, the Company reevaluated the accounting treatment of its public warrants and private placement warrants as equity, and concluded that, based on the SEC Statement, the public warrants and private placement warrants should be, and should previously have been, classified as a liability measured at fair value, with non-cash fair value adjustments recorded in earnings at each reporting period. The Company is currently determining the extent of the SEC Statement’s impact on its financial statements as of and for the quarter ended March 31, 2021 included in the Q1 2021 Form 10-Q (the “ Q1 2021 Financials ”). The Company is evaluating the impact of the SEC Statement on its internal control over financial reporting related to accounting for its public and private placement warrants. The Company is working diligently to complete the Q1 2021 Form 10-Q as soon as possible; however, given the scope of the process for determining the appropriate treatment of the public warrant and private placement warrants in accordance with the SEC Statement and appropriately reporting such treatment in the Q1 2021 Form 10-Q, the Company is unable to complete and file the Q1 2021 Form 10-Q by the required due date of May 17, 2021 without unreasonable effort and expense