secwatch.observer — SEC 8-K summary
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Issuer:     Opy Acquisition Corp. I (—)
CIK:        0001870778
Form:       8-K
Filed at:   2023-04-10T23:59:59+00:00
Accession:  0001193125-23-096535
Event type: regulatory
Sentiment:  neutral
Materiality: 0.70
Item codes: 3.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

OPY Acquisition Corp I receives Nasdaq MVLS deficiency notice; Sponsor exchanges 3.16M shares to regain compliance
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- On Apr 3, 2023, Nasdaq notified company that MVLS was under $50M for 30 consecutive days; 180-day cure period until Oct 2, 2023.
- On Apr 10, Sponsor exchanged 3,162,499 Founders Shares into Class A common; pro forma MVLS increase ~$32M based on $10.22 close.
- To regain compliance, MVLS must be >= $50M for 10 consecutive trading days and Nasdaq must provide written confirmation.
- If compliance not regained by Oct 2, securities subject to delisting; company may appeal to Hearings Panel.
- No assurance that the exchange will allow regaining compliance with MVLS Rule.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1870778/000119312523096535/0001193125-23-096535-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1870778/000119312523096535/d498171d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-096535

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