Angel Studios, Inc. (ANGX): Nasdaq/NYSE listing notice — NYSE commences delisting proceedings for PORT securities due to sub-$40M market cap

Angel Studios, Inc.

NYSE staff determined to delist PORT's Class A common, warrants, and units for failing $40M public float requirement.
Trading suspended immediately; OTC market expected under symbols PORT, PORT.W, PORT.U starting March 22, 2024.
Company has right to appeal to NYSE Board committee; intends to seek Nasdaq listing before or with any business combination.
Company has until December 14, 2024 per extension amendment to complete initial business combination or liquidate trust.
Liquidation would redeem public shares at trust account per-share cash amount less up to $100,000 dissolution expenses.

item 3.01 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

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

Angel Studios, Inc. received a nyse delisting notice notice regarding market value (rules 802.01).

Exchange: nyse
Notice: delisting notice
Deficiency: market value
Rules: 802.01

Exact text from the filing

rrants, with each whole warrant exercisable for one share of Class A Common Stock at an exercise price of $11.50, subject to adjustment (the “Warrants”) and (iii) units, each consisting of one share of Class A Common Stock and one-half of one Warrant (the “Units”), from the NYSE pursuant to Section 802.01 of the NYSE’s Listed Company Manual because the Company had fallen below the NYSE’s continued listing standard requiring a listed acquisition company to maintain an average aggregate global market capitalization attributable to its publicly held shares over a consecutive 30 trading day period

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Angel Studios, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-037394

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