Fintech Ecosystem Development Corp.: Nasdaq/NYSE listing notice — Fintech Ecosystem Development Corp. receives Nasdaq delisting notice for MVLS below $50M

Fintech Ecosystem Development Corp.

Nasdaq Staff notified Company that MVLS below $50M minimum for 30 consecutive business days as of Aug 21, 2023.
Company also does not meet Total Assets/Total Revenue standard under Nasdaq Listing Rule 5450(b)(3)(A).
Company has 180 calendar days, until Feb 20, 2024, to regain compliance; securities continue trading on Nasdaq Global Market during period.
Company intends to monitor MVLS and evaluate available options; no assurance of regaining compliance.

Key facts

Extracted from this filing and checked against the source text.

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

Fintech Ecosystem Development Corp. received a nasdaq deficiency notice notice regarding market value (rules 5450(b)(2)(A), 5450(b)(3)(A), 5810(c)(3)(C)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5450(b)(2)(A), 5450(b)(3)(A), 5810(c)(3)(C)

Exact text from the filing

August 21, 2023, Fintech Ecosystem Development Corp., a Delaware corporation (the “ Company ”), received a written notice (the “ Notice ”) from the Staff of the Listing Qualifications Department (the “ Staff ”) of the Nasdaq Stock Market LLC (“ 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 $50 million required for continued listing on The Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(b)(2)(A) (the “ Market Value Standard ”). The Staff also noted that the Company d

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Source: SEC EDGAR

accession 0001213900-23-070622

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