Exhibit 99.7
January 16, 2024
Securities and Exchange Commission
Division of Corporation Finance
Office of the Chief Accountant
100 F Street NE
Washington, DC 20549
| Re: | Holdco Nuvo Group D.G Ltd. Registration Statement on Form F-4 (333-274803) |
Request for Waiver of Requirements of Form 20-F, Item 8.A.4
Ladies and Gentlemen:
The undersigned, Holdco Nuvo Group D.G Ltd. (“Holdco”) and Nuvo Group Ltd. (“Nuvo”), each incorporated and existing under the laws of the State of Israel, are submitting this letter in connection with Holdco’s filing of its registration statement on Form F-4 on September 29, 2023 (the “Registration Statement”), as amended to date, including Holdco’s filing on the date hereof of Amendment No. 2 thereto (“Amendment No. 2”) in connection with the proposed business combination among LAMF Global Ventures Corp. I, a Cayman Islands exempted company, Holdco and Nuvo. We hereby respectfully request that the Securities and Exchange Commission (the “Commission”) waive the requirement of Item 8.A.4 of Form 20-F, which states that in the case of a company’s initial public offering the Registration Statement on Form F-4 must contain audited financial statements of a date not older than 12 months from the date of the offering unless a waiver is obtained. See also Division of Corporation Finance, Financial Reporting Manual, Sections 1140.5 and 6220.3.
At the time of initial filing of the Registration Statement on September 29, 2023, the Registration Statement satisfied Item 8.A.4 of Form 20-F, which is applicable to the Registration Statement pursuant to Item 14(h) of Form F-4, because it contained Nuvo’s audited financial statements for the years ended December 31, 2022 and 2021 prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). However, because Nuvo’s audited financial statements for the year ended December 31, 2023 will not be available until approximately March 30, 2024, Amendment No. 2 contains only audited financial statements for the years ended December 31, 2022 and 2021 and unaudited financial statements for the six months ended June 30, 2023 and 2022, in each case prepared in accordance with U.S. GAAP.
Holdco and Nuvo are submitting this waiver request pursuant to Instruction 2 to Item 8.A.4 of Form 20-F, which provides that the Commission will waive the 12-month age of financial statements requirement “if the company is able to represent that it is not required to comply with the 12-month requirement in any other jurisdiction outside the United States and that complying with the 12-month requirement is impracticable or involves undue hardship.”
See also the Commission’s November 1, 2004 release entitled International Reporting and Disclosure Issues in the Division of Corporation Finance (available on the Commission’s website at http://www.sec.gov/divisions/corpfin/internatl/cfirdissues1104.htm) in Section III.B.c, in which the Commission notes:
“the instruction indicates that the staff will waive the 12-month requirement where it is not applicable in the registrant’s other filing jurisdictions and is impracticable or involves undue hardship. As a result, we expect that the vast majority of IPOs will be subject only to the 15-month rule. The only times that we anticipate audited financial statements will be filed under the 12-month rule are when the registrant must comply with the rule in another jurisdiction, or when those audited financial statements are otherwise readily available.”
In connection with this request, Holdco and Nuvo represent to the Commission that:
1. Nuvo is not currently a public reporting company in any other jurisdiction.
2. Nuvo is not required by any jurisdiction outside the United States to prepare, and has not prepared, financial statements audited under any generally accepted auditing standards for any interim period.
3. Compliance with Item 8.A.4 is impracticable and involves undue hardship for Nuvo.
4. Nuvo does not anticipate that its audited financial statements for the year ended December 31, 2023 will be available until March 2024.
5. In no event will Nuvo seek effectiveness of the Registration Statement if its audited financial statements are older than 15 months at the time of the offering.
We have filed this letter as an exhibit to Amendment No. 2 pursuant to Instruction 2 to Item 8.A.4 of Form 20-F.
Please do not hesitate to contact Nuvo’s Chief Financial Officer, Kelly Londy, at kelly.londy@nuvocares.com if you have any questions regarding the foregoing or if we can provide any additional information.
| Very truly yours, | |
| /s/ Kelly Londy | |
| Kelly Londy | |
| Chief Executive Officer | |
| Holdco Nuvo Group D.G Ltd. |
| /s/ Kelly Londy | |
| Kelly Londy | |
| Chief Executive Officer | |
| Nuvo Group Ltd. |
