---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-037858"
form_type: "8-K"
ticker: null
cik: "0001768910"
company_name: "Greencity Acquisition Corp"
filed_at: "2023-03-29T23:59:59+00:00"
generated_at: "2026-06-17T10:43:26.771627+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Greencity Acquisition receives Nasdaq deficiency notice for minimum market value of listed securities

## Summary
- Received Nasdaq notice on March 24, 2023 for non-compliance with Listing Rule 5550(b)(2) requiring $35M minimum market value of listed securities.
- The notice has no immediate effect on trading of GRCYU, GRCY, GRCYW on Nasdaq Capital Market.
- Company has 180 calendar days, until September 20, 2023, to regain compliance.

## SEC filing metadata
- accession: 0001104659-23-037858
- form_type: 8-K
- cik: 0001768910
- company_name: Greencity Acquisition Corp
- filed_at: 2023-03-29T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 3.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1768910/000110465923037858/0001104659-23-037858-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1768910/000110465923037858/tm2310778d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-037858
- JSON: https://secwatch.observer/filing/0001104659-23-037858.json
- Plain text: https://secwatch.observer/filing/0001104659-23-037858.txt

## Key facts
- Listing & Compliance Notices
  Greencity Acquisition Corp received a nasdaq deficiency notice notice regarding market value (rules 5550(b)(2)).
  - Exchange: nasdaq
  - Notice: deficiency notice
  - Deficiency: market value
  - Rules: 5550(b)(2)
  source text: March 24, 2023, the Company received a notice (the “Notice”) from the Listing Qualifications Department of the Nasdaq Stock Market (“Nasdaq”) stating that the Company was not in compliance with Listing Rule 5550(b)(2) (the “Minimum Market Value of Listed Securities” or “MVLS”), which requires the Company to have at least 35 million market value of listed securities for continued listing on the NASDAQ Capital Market. The Notice is only a notification of deficiency and has no current effect on the listing or trading of the Company’s securities on the Nasdaq Capital Market. The Notice states that
  evidence_url: https://www.sec.gov/Archives/edgar/data/1768910/000110465923037858/0001104659-23-037858-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.