Intelligent Medicine Acquisition Corp.: Nasdaq/NYSE listing notice — Nasdaq notifies Intelligent Medicine Acquisition Corp of non-compliance with $15M public float requirement

Intelligent Medicine Acquisition Corp.

Company received MVPHS Letter on April 5, 2023 for failing to maintain $15M Market Value of Publicly Held Shares for 30 consecutive business days.
Nasdaq provided 180-day compliance period until October 2, 2023 to regain compliance by closing at $15M or more for ten consecutive days.
If not cured, Company may transfer to Nasdaq Capital Market or face delisting; appeal process available but not guaranteed.
Company intends to consider options to resolve the deficiency but no assurance of success.

Key facts

Extracted from this filing and checked against the source text.

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

Intelligent Medicine Acquisition Corp. received a nasdaq deficiency notice notice regarding market value (rules 5450(b)(2)(C)).

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

Exact text from the filing

April 5, 2023, Intelligent Medicine Acquisition Corp. (the “Company”) received a letter (the “MVPHS Letter”) from the Listing Qualifications division (the “Staff”) of the Nasdaq Stock Market LLC (“Nasdaq”) Company’s listed securities failed to comply with the $15 million market value of publicly held shares (“Market Value of Publicly Held Shares”) requirement for continued listing on the Nasdaq Global Market in accordance with Nasdaq Listing Rule 5450(b)(2)(C) based upon the Company’s Market Value of Publicly Held Shares for the 30 consecutive business days prior to the date of the MVPHS Notic

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Source: SEC EDGAR

accession 0001104659-23-043149

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