GlobeNewswire Inc | Jun 4, 2021 04:45PM EDT

June 04, 2021

New York, NY, June 04, 2021 (GLOBE NEWSWIRE) -- Golden Arrow Merger Corp. (the Company) today announced that on May 28, 2021 it received a deficiency letter (the Notice) from the Nasdaq Capital Market (Nasdaq) relating to the Companys failure to timely file its Quarterly Report on Form10-Qfor the quarter ended March31, 2021 (the Form10-Q)as required under Section5250(c) of the Nasdaq Rules and Regulations.

On April12, 2021, the staff of the Securities and Exchange Commission (SEC) issued Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies (SPACs) (the Statement), which clarified guidance for all SPAC-related companies regarding the accounting and reporting for their warrants. The immediacy of the effective date of the new guidance set forth in the Statement has resulted in a significant number ofSPACsre-evaluatingtheaccounting treatment for their warrants with their professional advisors, including auditors and other advisors responsible for assisting SPACs in the preparation of financial statements.This, in turn, has resulted in the Companys delay in preparing and finalizing its financial statements as of and for the quarter ended March31, 2021 and filing its Form10-Qwith the SEC by the prescribed deadline. Since receiving the Notice, the Company has filed its Form 10-Q with the SEC on June 4, 2021 and is in compliance with all other Nasdaq continued listing standards.

About Golden Arrow Merger Corp.

Golden Arrow Merger Corp. is a blank check company formed as a Delaware corporation for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an acquisition opportunity in any business, industry, sector, or geography, it intends to initially focus its search on identifying a prospective target business in the healthcare or healthcare-related infrastructure industries in the United States and other developed countries.

Forward Looking Statements

This press release contains statements that constitute forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Companys final prospectus filed with the SEC on March 18, 2021, the Companys Form 10-Q filed with the SEC on June 4, 2021, and subsequent reports filed with the SEC. Copies are available on the SECs website,www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media Contact: Golden Arrow Merger Corp. Valerie Toomeyinfo@goldenarrowspac.com