Iris Acquisition Corp: Nasdaq/NYSE listing notice — Iris Acquisition Corp receives Nasdaq delisting notice; plans to appeal

Iris Acquisition Corp

Received delisting notice from Nasdaq on Sept 26, 2023 for failing to maintain min MVLS of $35M over 30 consecutive business days.
Company intends to appeal by requesting hearing before Nasdaq Hearings Panel; stay of suspension pending decision.
As of Sept 25, 2023, MVLS exceeded $35M requirement; if maintained for 10 consecutive trading days during stay, compliance may be regained.
Class A common shares outstanding as of Sept 25, 2023: 7,306,609.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.82

Iris Acquisition Corp received a nasdaq compliance regained notice regarding market value (rules 5550(b)(2), 5810(c)(3)(C), 5800).

Exchange: nasdaq
Notice: compliance regained
Deficiency: market value
Rules: 5550(b)(2), 5810(c)(3)(C), 5800

Exact text from the filing

October 5, 2023, and a Form 25-NSE will be filed with the SEC, which will remove the Company’s securities from listing and registration on Nasdaq. The Company intends to appeal the Staff’s delisting determination by requesting a hearing before a Hearings Panel (the “Panel”). Such request would automatically stay the suspension of the Company’s securities pending the Panel’s decision (“Stay Period”). As of September 25, 2023, the Company’s MVLS exceeded the MVLS Requirement and continues to exceed the MVLS Requirement as of the date of this Form 8-K. It is the Company’s expectation that if the

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Source: SEC EDGAR

accession 0001104659-23-105902

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