SYNTEC OPTICS HOLDINGS, INC. (OPTX): Nasdaq/NYSE listing notice — OmniLit resolves Nasdaq minimum publicly held shares deficiency; sponsor converts 1M Class B shares to Class A

SYNTEC OPTICS HOLDINGS, INC.

Nasdaq notified OmniLit on Feb 1 for failing the 1.1M publicly held shares rule; company responded Feb 3 showing 1,348,049 shares; matter closed Feb 6.
OmniLit Sponsor LLC voluntarily converted 1,000,000 Class B shares into 1,000,000 Class A shares on Jan 31, 2023.
Post-conversion, the company has 2,348,049 Class A and 3,791,667 Class B shares; only the Sponsor is a 10%+ beneficial owner.
The Nasdaq compliance issue is resolved; the Company remains listed on the Nasdaq Global Market.

item 3.01 item 8.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

SYNTEC OPTICS HOLDINGS, INC. received a nasdaq deficiency notice notice regarding other.

Exchange: nasdaq
Notice: deficiency notice

Exact text from the filing

February 1, 2023, OmniLit Acquisition Corp. (the “Company”) received a written notice (the “Notice”) from the Listing Qualifications Department of the Nasdaq Stock Market (“NASDAQ”) indicating that the Company required to maintain a minimum of 1,100,000 publicly held shares (which is equal to total shares outstanding less any shares held by officers, directors, or beneficial owners of 10 percent or more) for continued listing on Nasdaq Global Market and did not comply with Listing Rules. Following receipt of the Notice, the Company promptly responded on February 3, 2023 and informed NASDAQ tha

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Source: SEC EDGAR

accession 0001493152-23-003688

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