RMG Acquisition Corp. III: Nasdaq/NYSE listing notice — RMG Acquisition Corp. III receives Nasdaq deficiency notice for market value below $35M

RMG Acquisition Corp. III

Nasdaq notice on June 20, 2023: MVLS below $35M minimum for 30 consecutive business days, violating Rule 5550(b)(2).
Also fails to meet Equity Standard (Rule 5550(b)(1)) and Net Income Standard (Rule 5550(b)(3)).
Company has 180 days, until December 18, 2023, to regain compliance; shares continue trading.
If not compliant by deadline, Nasdaq will issue delisting notice; company may appeal to hearings panel.
Company evaluating options but no assurance of regaining compliance with any listing standard.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

RMG Acquisition Corp. III received a nasdaq deficiency notice notice regarding market value (rules 5550(b)(2), 5550(b)(1), 5550(b)(3)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5550(b)(2), 5550(b)(1), 5550(b)(3)

Exact text from the filing

June 20, 2023, RMG Acquisition Corp. III (the “ Company ”) received a written notice (the “ Notice ”) from the Listing Qualifications Department (the “ Staff ”) of The Nasdaq Stock Market LLC (“ Nasdaq ”) notifying the Company that, for the last 30 consecutive business days, the Company’s Market Value of Listed Securities (“ MVLS ”) was below the minimum of $35 million required for continued listing on the Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(b)(2) (the “ Market Value Standard ”). The Staff also noted that the Company does not meet the requirements under Nasdaq Listing

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Source: SEC EDGAR

accession 0001140361-23-031428

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