Monterey Innovation Acquisition Corp: Nasdaq/NYSE listing notice — Monterey Innovation Acquisition Corp. receives Nasdaq deficiency notice for minimum total holders rule

Monterey Innovation Acquisition Corp

Nasdaq notified on Oct 9, 2023 that company failed to maintain at least 400 total holders as required by Listing Rule 5450(a)(2).
Company has 45 days (until Nov 24, 2023) to submit a plan to regain compliance.
If Nasdaq accepts the plan, the company may get an extension until April 6, 2024 to evidence compliance.
Notice has no immediate effect on listing or trading of MTRY, MTRYU, or MTYRW securities.
Company intends to submit a compliance plan; failure could lead to delisting appeal process.

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

Monterey Innovation Acquisition Corp received a nasdaq deficiency notice notice regarding other (rules 5450(a)(2)).

Exchange: nasdaq
Notice: deficiency notice
Rules: 5450(a)(2)

Exact text from the filing

October 9, 2023, Monterey Innovation Acquisition Corp. (the “Company”) received a written notice (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company is not in compliance with Nasdaq Listing Rule 5450(a)(2) (the “Minimum Total Holders Rule”), which requires the Company to have at least 400 total holders for continued listing on the Nasdaq Global Market. The Notice is only a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of the Company’s securities on the Nasdaq

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Source: SEC EDGAR

accession 0001104659-23-109099

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