Maquia Capital Acquisition Corp: Nasdaq/NYSE listing notice — Maquia Capital receives Nasdaq delisting notices for SPAC deadline and annual meeting failures

Maquia Capital Acquisition Corp

Nasdaq issued delisting notice May 7, 2024 for failing to complete a business combination within 36 months of IPO effectiveness.
Company also failed to hold annual meeting within 12 months of fiscal year end; 45 days to submit compliance plan.
Maquia appealed the SPAC deadline ruling on May 13 and submitted a plan to hold annual meeting by May 20, 2024.
Securities continue trading pending Nasdaq's final determination; no guarantee of extension or listing retention.
Non-compliance could ultimately result in delisting of common stock (MAQCU) from Nasdaq.

Key facts

Extracted from this filing and checked against the source text.

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

Maquia Capital Acquisition Corp received a nasdaq delisting notice notice regarding shareholders (rules IM-5101-2, 5810).

Exchange: nasdaq
Notice: delisting notice
Deficiency: shareholders
Rules: IM-5101-2, 5810

Exact text from the filing

May 13, 2024. The Notice also indicated that on January 8, 2024 (as reported on the Company’s January 12, 2024 8K), the Company failed to hold an annual meeting of stockholders within the required twelve-month period of the end of the Company’s fiscal year end. The Company has 45 days to submit a plan to regain compliance. If that plan is accepted, Maquia may be granted an exception of up to 180 calendar days from the fiscal year end, or June 28, 2024, to regain compliance. Failure to regain compliance with standards for continued listing would result in the ultimate de-listing of Maquia’s com

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Source: SEC EDGAR

accession 0001104659-24-060630

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