Globa Terra SPAC gets Nasdaq delisting notice after missing 15-month business combination deadline

Globa Terra Acquisition Corp

• Nasdaq Staff Determination dated Oct 16, 2026 says the SPAC failed to complete a business combination within the 36-month limit under IM-5101-2(b) and its own 15-month IPO deadline.
• IPO registration statement allowed up to 21 months via two 3-month extensions requiring $1,749,955 deposited into trust per extension; the company did not fund an extension.
• Company intends to appeal to a Nasdaq Hearing Panel by 4:00 p.m. ET on Oct 23, 2026; GTER, GTERU, GTERW and GTERR would keep trading pending the decision.
• Without a timely hearing request, trading suspends at the open on Oct 27, 2026 and a Form 25-NSE would remove the securities from Nasdaq listing and registration.
• Company is seeking to extend its business combination deadline to July 9, 2027; it gives no assurance the appeal or extension will succeed.