Twelve Seas Investment Co. II: Nasdaq/NYSE listing notice — Twelve Seas Investment Co II receives Nasdaq delisting notice for violating 36-month SPAC deadline

Twelve Seas Investment Co. II

Nasdaq notified Twelve Seas on Feb 27, 2024 of non-compliance with IM-5101-2 (SPAC must complete business combination within 36 months of IPO).
Without a hearing request, securities would be suspended and delisted from Nasdaq Capital Market starting March 7, 2024.
Company intends to timely request a hearing before Nasdaq Hearings Panel to appeal the notice.
Hearing request will stay suspension; trading continues until Panel issues written decision. No guarantee of relief.

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

Twelve Seas Investment Co. II received a nasdaq deficiency notice notice regarding other (rules IM-5101-2).

Exchange: nasdaq
Notice: deficiency notice
Rules: IM-5101-2

Exact text from the filing

February 27, 2024, Twelve Seas Investment Company II, a Delaware corporation (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 the Company has failed to comply with Nasdaq IM-5101-2, which requires that a special purpose acquisition company must complete one or more business combinations within 36 months of the effectiveness of its IPO registration statement. Pursuant to the Notice, unless the Company timely requests a hearing before the Nasdaq Hearings Panel

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Source: SEC EDGAR

accession 0001213900-24-018482

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