American Virtual Cloud Technologies, Inc.: Nasdaq/NYSE listing notice — AVCT receives Nasdaq delisting notice after Chapter 11 filing; shares to move to Pink Market

American Virtual Cloud Technologies, Inc.

Nasdaq notified AVCT on Jan 11, 2023 that its common stock and warrants will be delisted due to Chapter 11 bankruptcy filing and public interest concerns.
Company will not appeal the delisting determination; trading suspended at opening on Jan 20, 2023.
Securities expected to begin trading on the Pink Open Market on Jan 20, 2023, but no assurance of active market.
Company warns equity holders will likely receive little or no recovery in the Chapter 11 process.
Chapter 11 petitions were filed on Jan 11, 2023 by AVCT and two subsidiaries in Delaware bankruptcy court.

Key facts

Extracted from this filing and checked against the source text.

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

American Virtual Cloud Technologies, Inc. received a nasdaq delisting notice notice regarding other (rules 5101, 5110(b), IM-5101-1).

Exchange: nasdaq
Notice: delisting notice
Rules: 5101, 5110(b), IM-5101-1

Exact text from the filing

January 11, 2023, American Virtual Cloud Technologies, Inc. (the “Company”) and two of its subsidiaries filed voluntary petitions (the “Bankruptcy Petitions”) under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (such court, the “Court” and such cases, the “Cases”). On January 11, 2023, the Company received written notice (the “Delisting Notice”) from the staff of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, as a result of the Bankruptcy Petitions and in accordance with Nasdaq Listing Rules 5101, 5110(b)

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Source: SEC EDGAR

accession 0001213900-23-002373

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