Revelstone Capital Acquisition Corp.: Nasdaq/NYSE listing notice — Revelstone Capital receives Nasdaq non-compliance notice for warrants under $1M market value

Revelstone Capital Acquisition Corp.

Nasdaq notified Revelstone on June 14, 2023 that its warrants fail to meet minimum $1,000,000 aggregate market value under Rule 5452(b)(C).
Company has 45 calendar days (until July 31, 2023) to submit a plan to regain compliance.
If plan accepted, Nasdaq may grant up to 180 calendar days extension until December 11, 2023.

Key facts

Extracted from this filing and checked against the source text.

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

Revelstone Capital Acquisition Corp. received a nasdaq deficiency notice notice regarding market value (rules 5452(b)(C)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5452(b)(C)

Exact text from the filing

June 14, 2023, Revelstone Capital Acquisition Corp., a Delaware corporation (the “ Company ”) received a notification letter (the “ Notice ”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“ Nasdaq ”) indicating that that it was not in compliance with Nasdaq Listing Rule 5452(b)(C) with respect to its warrants for failing to maintain a minimum of $1,000,000 in aggregate market value of its outstanding warrants which is required by the Nasdaq Global Market. Under the Nasdaq Listing Rules, the Company has 45 calendar days from June 14, 2023, or July 31, 2023, to submi

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Source: SEC EDGAR

accession 0001104659-23-072899

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