American Bitcoin Corp. (ABTC): Nasdaq/NYSE listing notice — Akerna receives Nasdaq delisting determination; plans appeal by Sept 26

American Bitcoin Corp.

Nasdaq staff says Akerna not in compliance with bid price and equity rules; stock suspended Sept 28 unless appeal is filed.
Company plans to timely appeal by Sept 26 deadline and request a hearing; hearing stays delisting pending Panel decision.
Akerna believes pending transactions with Gryphon Digital Mining and MJ Acquisition Corp. will close near hearing and support extension request.
No assurance Panel will grant continued listing; delisting could impair capital raising and trigger defaults.

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

American Bitcoin Corp. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2)

Exact text from the filing

September 19, 2023, to regain compliance with the Equity Rule. However, the Staff indicated in the Determination Letter that, pursuant to Listing Rule 5810(d)(2), this deficiency serves as an additional and separate basis for delisting, and as such, the Company should address its non-compliance with the Equity Rule before a Hearings Panel (the “Panel”) if it appeals the Staff’s determination. The Company believes that its ongoing and previously announced transactions with Gryphon Digital Mining, Inc. and MJ Acquisition Corp., which transactions will include a reverse stock split in the Company

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Source: SEC EDGAR

accession 0001213900-23-078776

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