Global Technology Acquisition Corp. I: Nasdaq/NYSE listing notice — GTAC receives Nasdaq delisting notice for MVLS below $50M threshold

Global Technology Acquisition Corp. I

Received Nasdaq notice on June 28, 2023 for failing MVLS minimum of $50M for 30 consecutive business days.
Compliance period of 180 days until December 26, 2023 to regain compliance by closing at or above $50M for 10 consecutive business days.
Company does not meet alternative Nasdaq Global Market standards (Equity, Total Assets/Total Revenue).
GTAC may consider transferring listing to Nasdaq Capital Market but no assurance of success.
Trading continues during cure period; if not cured, securities subject to delisting with possible appeal.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Global Technology Acquisition Corp. I received a nasdaq deficiency notice notice regarding market value (rules 5450(b)(2)(A)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5450(b)(2)(A)

Exact text from the filing

June 28, 2023, Global Technology Acquisition Corp. I, a Cayman Islands exempted company (the “Company” or “GTAC”), 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 $50 million required for continued listing on the Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(b)(2)(A) (the “Market Value Standard”). The Staff also noted that the Company does n

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Source: SEC EDGAR

accession 0001193125-23-180559

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