Genesis Growth Tech Acquisition Corp.: Nasdaq/NYSE listing notice — Nasdaq to delist Genesis Growth Tech Acquisition Corp. on July 25 due to non-compliance

Genesis Growth Tech Acquisition Corp.

Nasdaq determined to delist GGAA securities (units, ordinary shares, warrants) effective July 25, 2023.
Non-compliance with Listing Rule 5452: avg market value of listed securities below $50M and publicly held shares below $40M.
Publicly held shares calculated at 101,039 vs required minimum of 600,000, an additional delisting basis.
Also failed to timely file Form 10-Q for period ended March 31, 2023, a separate delisting basis.
Company may appeal by July 21, 2023; trading has been halted since July 13, 2023.

item 3.01 item 7.01 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

Genesis Growth Tech Acquisition Corp. received a nasdaq delisting notice notice regarding market value (rules 5452).

Exchange: nasdaq
Notice: delisting notice
Deficiency: market value
Rules: 5452

Exact text from the filing

listed their securities on The Nasdaq Global Market under alternative Listing Rule 5406, to among other things, maintain a minimum average market value of listed securities of $50,000,000, and a minimum average market value of publicly held shares of $40,000,000, over 30 consecutive trading days. Pursuant to the July 14, 2023, notice, Nasdaq advised the Company that

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

Genesis Growth Tech Acquisition Corp. received a nasdaq delisting notice notice regarding late filing (rules 5250(c)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: late filing
Rules: 5250(c)

Exact text from the filing

July 14, 2023, Genesis Growth Tech Acquisition Corp. (the “ Company ”), received a written notice from the Listing Qualifications Department of The Nasdaq Stock Market (“ Nasdaq ”) indicating that the Company’s securities (units, ordinary shares and warrants) will be suspended from The Nasdaq Global Market on July 25, 2023, due to the Company’s non-compliance with Listing Rule 5452. Listing Rule 5452 requires that special purpose acquisition companies (SPACs) which listed their securities on The Nasdaq Global Market under alternative Listing Rule 5406, to among other things, maintain a minimum

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Source: SEC EDGAR

accession 0001213900-23-057150

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