Horizon Acquisition Corp II: Nasdaq/NYSE listing notice — NYSE notifies Horizon Acquisition II of likely delisting on Nov 28 for public float shortfall

Horizon Acquisition Corp II

NYSE notified Horizon Acquisition II on Nov 14, 2022 that its public float fell below the required $40M average over 30 trading days due to extension-related redemptions.
If not cured, NYSE expects to suspend trading and commence delisting proceedings on November 28, 2022.
Company evaluating transfer to NYSE American, which has a $20M public float standard; sponsor may need to sell some shares to third parties.
No assurance that alternative listing can be obtained or transition without a gap; liquidity and value of securities could be affected.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Horizon Acquisition Corp II received a nyse deficiency notice notice regarding market value (rules 802.01B).

Exchange: nyse
Notice: deficiency notice
Deficiency: market value
Rules: 802.01B

Exact text from the filing

November 14, 2022, Horizon Acquisition Corporation II (the “ Company ”) received an e-mail from the New York Stock Exchange (the “ NYSE ”) stating that the NYSE was assessing the Company’s ability to meet the requirements of Section 802.01B of the NYSE’s Listed Company Manual. That Section requires a listed acquisition company to maintain an average aggregate global market capitalization attributable to its publicly held shares (a “ public float ”) over a consecutive 30 trading day period of at least $40,000,000. The e-mail referred to the redemptions of the Company’s Class A ordinary shares i

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Source: SEC EDGAR

accession 0001104659-22-120357

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