Atlantic Coastal Acquisition Corp.: Nasdaq/NYSE listing notice — Atlantic Coastal Acquisition receives Nasdaq delisting notice for insufficient publicly held shares

Atlantic Coastal Acquisition Corp.

Received Nasdaq notice on Apr 27, 2023 for failing to maintain minimum 500,000 publicly held shares; currently 461,370.
Must submit a compliance plan by June 12, 2023 under Listing Rule 5550(a)(4).
Company expects deficiency resolved when certain 10% holders file Form 13Fs reflecting lower holdings as of Mar 31, 2023.

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

Atlantic Coastal Acquisition Corp. received a nasdaq deficiency notice notice regarding other (rules 5550(a)(4)).

Exchange: nasdaq
Notice: deficiency notice
Rules: 5550(a)(4)

Exact text from the filing

April 27, 2023, Atlantic Coastal Acquisition Corp. (the “Company”) received notice (“Notice”) from the Nasdaq Stock Market LLC (“Nasdaq”) informing the Company that the Company was not in compliance with Nasdaq’s listing rules (the “Listing Rules”) as set forth in Listing Rule 5550(a)(4) given the Company’s failure to maintain a sufficient number of publicly held shares. Citing the Company’s Form 10-K for the year ending December 31, 2022, Nasdaq calculated the Company’s publicly held shares as 461,370 (which amount excludes shares held by officers, directors, or beneficial owners of 10 percen

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Source: SEC EDGAR

accession 0001104659-23-054331

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