Cactus Acquisition Corp. 1 Ltd: Nasdaq/NYSE listing notice — Cactus Acquisition Corp. 1 receives Nasdaq notice for failure to meet $50M MVLS continued listing rule

Cactus Acquisition Corp. 1 Ltd

Nasdaq notice dated June 29, 2023, for failure to meet $50M minimum market value of listed securities (MVLS) on Nasdaq Global Market.
Company has 180 days, until December 26, 2023, to regain compliance by closing at $50M or more for ten consecutive business days.
If not compliant by deadline, Nasdaq would issue delisting notification; company may appeal to Hearings Panel.
Securities: units (CCTSU), Class A ordinary shares (CCTS), and warrants (CCTSW) remain listed and trading is unaffected for now.

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

Cactus Acquisition Corp. 1 Ltd 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

June 29, 2023, Cactus Acquisition Corp. 1 Ltd., a Cayman Islands exempted company (the “Company”), received a written notice (the “Notice”) from the Nasdaq Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) indicating that the Company was not in compliance with Listing Rule 5450(b)(2)(A) (the “MVLS Rule”), which requires the Company to have at least $50 million market value of listed securities (the “MVLS”) for continued listing on the Nasdaq Global Market. The Notice is only a notification of deficiency, not of imminent delisting, and has no current effect on the listing

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Source: SEC EDGAR

accession 0001213900-23-054347

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