Summit Healthcare Acquisition Corp.: Nasdaq/NYSE listing notice — Summit Healthcare receives Nasdaq delisting notice for failing minimum public holders rule

Summit Healthcare Acquisition Corp.

Received Nasdaq notice on Feb 3, 2023 for non-compliance with Minimum Public Holders Rule (requires 300 public holders).
Company has 45 calendar days to submit a plan to regain compliance with the rule.
If plan accepted, Nasdaq may grant up to 180-day extension from the notice date.
Notice is not an imminent delisting; securities continue trading on Nasdaq Capital Market.
Company intends to submit a compliance plan within the required timeframe.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.97

Summit Healthcare Acquisition Corp. received a nasdaq deficiency notice notice regarding shareholders (rules 5550(a)(3)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: shareholders
Rules: 5550(a)(3)

Exact text from the filing

February 3, 2023, Summit Healthcare Acquisition Corp. (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 Listing Rule 5550(a)(3) (the “Minimum Public Holders Rule”), which requires the Company to have at least 300 public holders for continued listing on the Nasdaq Capital Market (the “Minimum Public 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

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Source: SEC EDGAR

accession 0001193125-23-026921

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