Acri Capital Acquisition Corp: Nasdaq/NYSE listing notice — Acri Capital receives Nasdaq deficiency notice for MVLS below $50M minimum

Acri Capital Acquisition Corp

MVLS below $50M minimum for 30 consecutive business days; letter received May 19, 2023.
Company has 180 calendar days, until November 15, 2023, to regain compliance.
Applied to transfer listing from Nasdaq Global Market to Nasdaq Capital Market.
No immediate delisting; Nasdaq rules allow appeal if compliance not met by deadline.

item 3.01 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 0.9

Acri Capital Acquisition Corp 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

May 19, 2023, Acri Capital Acquisition Corporation (the “ Company ”) received a letter (the “ Letter ”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“ Nasdaq ”) that, for the previous 30 consecutive business days, the Market Value of Listed Securities (“MVLS”) for the Company was below the $50 million minimum MVLS requirement for continued listing on the Nasdaq Global Market (the “Global Market”) under Nasdaq Listing Rule 5450(b)(2)(A) (the “ MVLS Rule ”). The Letter is only a notification of deficiency, not of imminent delisting, and has no current effect on the

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Source: SEC EDGAR

accession 0001213900-23-041975

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