---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-046647"
form_type: "8-K"
ticker: null
cik: "0001852749"
company_name: "ExcelFin Acquisition Corp."
filed_at: "2024-04-12T23:59:59+00:00"
generated_at: "2026-06-03T23:34:28.254502+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# ExcelFin receives Nasdaq deficiency notice for failing minimum total holders rule

## Summary
- Nasdaq notified ExcelFin on April 10, 2024 of non-compliance with Listing Rule 5450(a)(2) requiring at least 400 total holders.
- Company has until May 28, 2024 to submit a plan to regain compliance; Nasdaq may grant up to 180-day extension.
- Non-compliance has no immediate effect on listing or trading; failure to cure could lead to delisting.
- No impact on business combination timeline disclosed; forward-looking statements caution about regaining compliance.

## SEC filing metadata
- accession: 0001104659-24-046647
- form_type: 8-K
- cik: 0001852749
- company_name: ExcelFin Acquisition Corp.
- filed_at: 2024-04-12T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 3.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1852749/000110465924046647/0001104659-24-046647-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1852749/000110465924046647/tm2411578d3_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-046647
- JSON: https://secwatch.observer/filing/0001104659-24-046647.json
- Plain text: https://secwatch.observer/filing/0001104659-24-046647.txt

## Key facts
- Listing & Compliance Notices
  ExcelFin Acquisition Corp. received a nasdaq deficiency notice notice regarding shareholders (rules 5450(a)(2)).
  - Exchange: nasdaq
  - Notice: deficiency notice
  - Deficiency: shareholders
  - Rules: 5450(a)(2)
  source text: April 10, 2024, ExcelFin Acquisition Corp., a Delaware corporation (the “Company”), received a written notice (the “Notice”) from the Nasdaq Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) indicating that the Company was not in compliance with Nasdaq Listing Rule 5450(a)(2), which requires the Company to maintain at least 400 total holders for continued listing on the Nasdaq Global Market (the “Minimum Total Holders Rule”). 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 sec
  evidence_url: https://www.sec.gov/Archives/edgar/data/1852749/000110465924046647/0001104659-24-046647-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.