Seaport Global Acquisition II Corp.: Nasdaq/NYSE listing notice — Seaport Global Acquisition II receives Nasdaq deficiency notice for minimum holders and equity requirements

Seaport Global Acquisition II Corp.

Nasdaq letter dated Sept. 12, 2023 cites failure to meet minimum 400 total stockholders (Rule 5450(a)(2)).
Also fails to meet minimum $10M stockholders' equity (Rule 5450(b)(1)(A)) for Nasdaq Global Market.
Company has 45 days to submit a compliance plan; Nasdaq may grant up to 180-day extension.
If not cured, securities may be delisted; company may appeal or seek transfer to Nasdaq Capital Market.
No assurance of regaining compliance; management evaluating available options.

Key facts

Extracted from this filing and checked against the source text.

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

Seaport Global Acquisition II Corp. received a nasdaq deficiency notice notice regarding stockholders equity (rules 5450(b)(1)(A), 5450(a)(2)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: stockholders equity
Rules: 5450(b)(1)(A), 5450(a)(2)

Exact text from the filing

September 12, 2023, Seaport Global Acquisition II Corp. (the “Company”) received a letter (the “Letter”) from the Listing Qualifications division (the “Staff”) of the Nasdaq Stock Market LLC (“Nasdaq”) stating the Company’s number of total stockholders failed to comply with the minimum 400 total holders requirement in accordance with Nasdaq Listing Rule 5450(a)(2) and that the Company’s stockholders’ equity failed to comply with the minimum $10 million requirement in accordance with Nasdaq Listing Rule 5450(b)(1)(A), in each case for continued listing on the Nasdaq Global Market (collectively

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Source: SEC EDGAR

accession 0001104659-23-101252

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