Evo Acquisition Corp: Nasdaq/NYSE listing notice — EVO Acquisition Corp. receives Nasdaq deficiency notices for MVLS and public float

Evo Acquisition Corp

On April 3, 2023, Nasdaq notified EVO that its MVLS was below $35M minimum for 30 consecutive business days.
Company has 180 days (until Oct 2, 2023) to regain MVLS compliance by closing at $35M+ for 10 consecutive days.
On April 5, 2023, Nasdaq notified EVO that its publicly held shares fell below the 500,000 minimum; plan due by May 22, 2023.
Company is evaluating options including its business combination agreement with 20Cube Logistics Pte. Ltd. (announced Oct 18, 2022).
Securities continue trading on Nasdaq; no immediate delisting effect, but failure to comply could lead to delisting.

item 3.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

Evo 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

April 3, 2023, Evo Acquisition Corp. (the “Company”) received a letter (the “MVLS Notice”) from the listing qualifications department staff 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 “Market Value Standard”). In accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company has 180 calendar days, or until October 2, 2023, to regain

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Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

Evo Acquisition Corp received a nasdaq deficiency notice notice regarding shareholders (rules 5550(a)(4)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: shareholders
Rules: 5550(a)(4)

Exact text from the filing

April 5, 2023, the Company received another letter (the “Public Float Notice”) from Nasdaq notifying the Company that the Company no longer meets the minimum 500,000 publicly held shares required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(4) (the “Public Float Standard”). The Public Float Notice states that the Company has until May 22, 2023 to provide Nasdaq with a specific plan to achieve and sustain compliance with all The Nasdaq Capital Market listing requirements, including the time frame for completion of this plan. If Nasdaq does not accep

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Source: SEC EDGAR

accession 0001213900-23-027988

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