Papaya Growth Opportunity Corp. I: Nasdaq/NYSE listing notice — Papaya Growth Opportunity Corp. I receives Nasdaq MVLS deficiency notice; 180 days to comply

Papaya Growth Opportunity Corp. I

On Dec 7, 2023, Nasdaq notified PPYA that its common stock's MVLS fell below the $50M minimum for 30 consecutive days.
Company has until June 7, 2024 to regain compliance by closing MVLS at or above $50M for 10 consecutive business days.
If not compliant by then, Nasdaq will initiate delisting; Company may appeal or transfer to Nasdaq Capital Market.
Company intends to monitor MVLS and evaluate options, but there is no assurance of regaining compliance.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.7

Papaya Growth Opportunity Corp. I received a nasdaq deficiency notice notice regarding market value (rules 5450(b)(2)(A)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5450(b)(2)(A)

Exact text from the filing

December 7, 2023, Papaya Growth Opportunity Corp. I, a Delaware corporation (the “ Company ”), received a letter (the “ Letter ”) from the staff at The Nasdaq Global Market (“ Nasdaq ”) notifying the Company that, for the 30 consecutive trading days prior to the date of the Letter, the Company’s common stock had traded at a value below the minimum $50,000,000 “Market Value of Listed Securities” (“ MVLS ”) requirement set forth in Nasdaq Listing Rule 5450(b)(2)(A), which is required for continued listing of the Company’s common stock on Nasdaq. The Letter is only a notification of deficiency, n

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Source: SEC EDGAR

accession 0001104659-23-125760

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