Relativity Acquisition Corp (ACQC): Nasdaq/NYSE listing notice — RACY receives Nasdaq delisting notice after 14.2M shares redeemed; trading halted

Relativity Acquisition Corp

Nasdaq staff cites non-compliance with MVLS ($50M min), publicly held shares (1.1M min), and market value of publicly held shares ($15M min).
Trading in RACY securities halted on Jan 11, 2023; company unable to predict when halt will be lifted.
Company requested a hearing before Nasdaq Hearings Panel; hearing stays delisting but outcome uncertain.
Massive redemptions disclosed on Dec 28, 2022 8-K: 14,221,705 Class A shares redeemed at Dec 21 special meeting.
Staff applied more stringent criteria under Nasdaq Listing Rule 5101, bypassing standard compliance periods.

Key facts

Extracted from this filing and checked against the source text.

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

Relativity Acquisition Corp received a nasdaq delisting notice notice regarding market value (rules 5450(b)(2)(A), 5450(b)(2)(B), 5450(b)(2)(C), 5450(a)(2), 5450(b)(1), 5450(b)(3), 5550, 5101).

Exchange: nasdaq
Notice: delisting notice
Deficiency: market value
Rules: 5450(b)(2)(A), 5450(b)(2)(B), 5450(b)(2)(C), 5450(a)(2), 5450(b)(1), 5450(b)(3), 5550, 5101

Exact text from the filing

January 12, 2023, Relativity Acquisition Corp. (the “Company”) received a determination letter (the “Letter”) from the Nasdaq Listing Qualifications staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company was not in compliance with the requirements of the Nasdaq Listing Rules set forth in (i) Listing Rule 5450(b)(2)(A), requiring a minimum of $50 million Market Value of Listed Securities, (ii) Listing Rule 5450(b)(2)(B), requiring a minimum 1,100,000 Publicly Held Shares, and (iii) Listing Rule 5450(b)(2)(C), requiring a minimum of $15 million in Market Value

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Relativity Acquisition Corp filing history →

Source: SEC EDGAR

accession 0001213900-23-003767

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