AIB Acquisition Corp: Nasdaq/NYSE listing notice — AIB Acquisition receives Nasdaq delisting notice; suspension possible Dec 1 if no hearing

AIB Acquisition Corp

Notice on Nov 22, 2023 cites failure to regain compliance with $50M market value of listed securities and $15M public float.
Also previously failed to maintain 400 public holders; this serves as additional delisting basis.
Unless a hearing is requested by Dec 1, securities will be suspended and delisted from Nasdaq Global Market.
Company considering appeal or applying to transfer to Nasdaq Capital Market; no assurance of outcome.

Key facts

Extracted from this filing and checked against the source text.

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

AIB Acquisition Corp received a nasdaq delisting notice notice regarding market value (rules 5450(b)(2)(A), 5450(b)(2)(C), 5450(a)(2)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: market value
Rules: 5450(b)(2)(A), 5450(b)(2)(C), 5450(a)(2)

Exact text from the filing

November 22, 2023, AIB Acquisition Corporation, a special purpose acquisition company incorporated as a Cayman Islands exempted company (the “Company”) received a notice (the “Notice”) from the staff (the “Staff”) of the Listing Qualifications Department of the Nasdaq Stock Market LLC (“Nasdaq”) indicating that since it was first notified by Nasdaq on May 11, 2023, the Company had not regained compliance with Listing Rule 5450(b)(2)(A) which requires a company listed on the Nasdaq Global Market to have a minimum $50 million market value of its listed securities for 30 consecutive trading days

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Source: SEC EDGAR

accession 0001213900-23-090609

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