Cactus Acquisition Corp. 1 Ltd: Nasdaq/NYSE listing notice — Cactus Acquisition Corp. 1 receives Nasdaq non-compliance notice for MVPHS below $15M

Cactus Acquisition Corp. 1 Ltd

Received Nasdaq notice on May 7, 2024 for failing to maintain minimum MVPHS of $15M.
Has 180 days, until November 4, 2024, to regain compliance with MVPHS Rule.
May transfer to Nasdaq Capital Market (MVPHS threshold $5M, currently exceeded) if not compliant.
No immediate effect on listing or trading of securities on Nasdaq Global Market.
Company will monitor MVPHS and consider options; expects to apply for transfer if needed.

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

Cactus Acquisition Corp. 1 Ltd received a nasdaq deficiency notice notice regarding market value (rules 5450(b)(2)(C)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5450(b)(2)(C)

Exact text from the filing

May 7, 2024, Cactus Acquisition Corp. 1 Ltd., a Cayman Islands exempted company (the “Company”), received a written notice (the “Notice”) from the Nasdaq Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) indicating that the Company was not in compliance with Listing Rule 5450(b)(2)(C) (the “MVPHS Rule”), which requires listed securities to maintain a minimum Market Value of Publicly Held Shares (MVPHS) of $15,000,000. Based upon Nasdaq’s review of the Company’s MVPHS, the Company no longer meets this requirement. Consequently, a deficiency exists with regard to the MVPHS

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Source: SEC EDGAR

accession 0001437749-24-016038

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