regulatory
confidence high
sentiment negative
materiality 0.75
Nocturne Acquisition Corp: Nasdaq/NYSE listing notice — Nocturne Acquisition receives Nasdaq notice for failing minimum public float rule
Nocturne Acquisition Corp
- Nasdaq notified Nocturne of non-compliance with minimum 500,000 publicly held shares rule.
- Company has until July 17, 2023 to submit a plan to regain compliance.
- Non-compliance likely due to shareholder redemptions from April 2023 extension vote.
- Company expects surviving entity after pending Cognos Therapeutics deal to meet the float standard.
- Securities continue trading on Nasdaq Capital Market with no immediate effect.