Iris Acquisition Corp: Nasdaq/NYSE listing notice — Iris Acquisition Corp receives Nasdaq deficiency notices for MVLS and public holder count

Iris Acquisition Corp

MVLS notice on March 28, 2023: market value below $35M minimum for 30 consecutive business days.
Compliance deadline: September 25, 2023; must close at $35M+ for 10 consecutive business days.
Minimum Public Holders notice on March 30, 2023: fewer than 300 public holders; 45 days to submit plan.
Common stock continues trading under IRAA; no immediate delisting effect.
If compliance not regained, Nasdaq may delist; company can appeal to Hearings Panel.

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 0.99

Iris Acquisition Corp received a nasdaq noncompliance notice notice regarding market value (rules 5810(c)(3)(C)).

Exchange: nasdaq
Notice: noncompliance notice
Deficiency: market value
Rules: 5810(c)(3)(C)

Exact text from the filing

March 30, 2023, the Company, received an additional written notice (the “Minimum Public Holders Notice”) from the Staff indicating that the Company was not in compliance with Listing Rule 5550(a)(3), which requires the Company to have at least 300 public holders for continued listing on the Nasdaq Capital Market (the “Minimum Public Holders Rule”). The Minimum Public Holders Notice is only a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of the Company’s securities on the Nasdaq Capital Market. The Minimum Public Holders Notice states

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Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.99

Iris Acquisition Corp received a nasdaq deficiency notice notice regarding shareholders (rules 5550(a)(3)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: shareholders
Rules: 5550(a)(3)

Exact text from the filing

March 30, 2023, the Company, received an additional written notice (the “Minimum Public Holders Notice”) from the Staff indicating that the Company was not in compliance with Listing Rule 5550(a)(3), which requires the Company to have at least 300 public holders for continued listing on the Nasdaq Capital Market (the “Minimum Public Holders Rule”). The Minimum Public Holders Notice is only a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of the Company’s securities on the Nasdaq Capital Market. The Minimum Public Holders Notice states

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Source: SEC EDGAR

accession 0001104659-23-040090

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