Progress Acquisition Corp.: Nasdaq/NYSE listing notice — Progress Acquisition Corp receives Nasdaq deficiency notice for MVLS below $35M minimum

Progress Acquisition Corp.

Nasdaq notified on Jan 24, 2023 that MVLS was below $35M for 30 consecutive business days, violating Rule 5550(b)(2).
Company has 180 days (until July 24, 2023) to regain compliance by achieving MVLS ≥$35M for 10 consecutive business days.
If compliance not met by deadline, Nasdaq will issue delisting notice; company may appeal to Hearings Panel.
No immediate effect on listing; company is evaluating options to regain compliance.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

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

Progress Acquisition Corp. received a nasdaq deficiency notice notice regarding market value (rules 5550(b)(2)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5550(b)(2)

Exact text from the filing

January 24, 2023, Progress Acquisition Corporation (the “Company”) received a written notice (the “Notice”) from the Nasdaq Listing Qualifications Department of The Nasdaq Stock Market (“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 $35 million required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(b)(2). The Notice from Nasdaq is only a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trad

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Source: SEC EDGAR

accession 0001213900-23-005698

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