Atlantic Coastal Acquisition Corp.: Nasdaq/NYSE listing notice — ACAH reverses redemption plan, seeks extension; gets Nasdaq delisting notice for late 10-Q

Atlantic Coastal Acquisition Corp.

On Aug 18 announced redemption of public shares, but on Aug 25 reversed and now seeks shareholder approval to extend business combination deadline beyond Sep 8, 2023.
Received Nasdaq notice on Aug 17 for failure to timely file Q2 2023 Form 10-Q; has 60 days to submit a compliance plan.
Trust account securities were liquidated on Mar 22, 2023; all funds are now held in cash in a bank demand deposit account.
Definitive proxy filed Sep 6 with corrected per share redemption price, trust account amount, and modified redemption deadline.
Special meeting for extension vote is scheduled for Sep 8, 2023; pending stockholder approval.

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 noncompliance notice notice regarding late filing (rules 5250(c)(1)).

Exchange: nasdaq
Notice: noncompliance notice
Deficiency: late filing
Rules: 5250(c)(1)

Exact text from the filing

August 17, 2023, the Company received notice (the “Notice”) from the Nasdaq Stock Market LLC (“Nasdaq”) that the Company was not in compliance with Nasdaq’s continued listing standards (the “Listing Rules”) as set forth in Listing Rule 5250(c)(1) given the Company’s failure to timely file the Report. Consistent with the Listing Rules, the Company has 60 calendar days from the date of the Notice to provide Nasdaq with a specific plan to achieve and sustain compliance with the Listing Rules. The Company expects to file the Report in the coming weeks. On August 25, 2023, the Company issued a pres

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Source: SEC EDGAR

accession 0001104659-23-098514

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