Zoomcar Holdings, Inc. (ZCAR): Nasdaq/NYSE listing notice — Innovative International Acquisition Corp. receives Nasdaq MVLS deficiency notice; two directors resign

Zoomcar Holdings, Inc.

Nasdaq notified IOAC on March 31, 2023 that its Market Value of Listed Securities fell below $50M minimum.
Company has 180 days (until Sept 27, 2023) to regain compliance; may transfer to Nasdaq Capital Market if needed.
Directors Anuradha George and Elaine Price resigned effective March 31, 2023; no disagreement cited.
George to receive 30,000 founder shares upon close of initial business combination; forfeits 5,000 shares.
Fernando Garibay appointed to Audit Committee to fill vacancy from George's resignation.

item 3.01 item 5.02 item 9.01

Executive movements

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Departed

Elaine Price

Director

ZCAR · Zoomcar Holdings, Inc.

Effective: 2023-03-31
Filed: April 6, 2023, 7:59 PM ET

Also on March 31, 2023, Ms. Elaine Price resigned from her position as a director of the Company

Departed

Anuradha George

Director

ZCAR · Zoomcar Holdings, Inc.

Effective: 2023-03-31
Filed: April 6, 2023, 7:59 PM ET

Effective March 31, 2023, Ms. Anuradha George resigned from her position as a director of the Company

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

Zoomcar Holdings, Inc. received a nasdaq deficiency notice notice regarding market value (rules 5450(b)(2)(A)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5450(b)(2)(A)

Exact text from the filing

March 31, 2023, Innovative International Acquisition Corp. (the “Company”) received a written notice (the “Letter”) from the Nasdaq Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) indicating that the Company was not in compliance with Listing Rule 5450(b)(2)(A), requiring the Company to maintain a Market Value of Listed Securities (“MVLS”) of $50,000,000 for the continued listing of its securities on The Nasdaq Global Market. The Letter is only a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of the Company’s s

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Elaine Price resigned as Director at Zoomcar Holdings, Inc..

Action: resigned
Role: Director

Exact text from the filing

Also on March 31, 2023, Ms. Elaine Price resigned from her position as a director of the Company

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Anuradha George resigned as Director at Zoomcar Holdings, Inc..

Action: resigned
Role: Director

Exact text from the filing

Effective March 31, 2023, Ms. Anuradha George resigned from her position as a director of the Company

View on SEC.gov

20 listing & compliance notices filed in the last 30 days. Browse all listing & compliance notices →

Zoomcar Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-042772

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