SYNTEC OPTICS HOLDINGS, INC. (OPTX): Nasdaq/NYSE listing notice — OmniLit receives Nasdaq non-compliance notices; sponsor converts shares to cure

SYNTEC OPTICS HOLDINGS, INC.

Nasdaq notified OmniLit that MVLS fell below $50M required for Global Market listing.
Also failed to meet $15M MVPHS; granted 180-day cure period or may transfer to Capital Market.
Sponsor voluntarily converted 3M Class B shares to Class A on April 5, 2023.
Nasdaq requires 10 consecutive trading days at ≥$50M MVLS after conversion to regain compliance.
Company has 5,348,049 Class A shares and 791,667 Class B shares post-conversion.

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 market value.

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value

Exact text from the filing

April 4, 2023 and informed NASDAQ that the Company had 3,791,677 Class B shares available for voluntary conversion to 3,791,677 Class A shares to achieve compliance. On April 6, 2023, NASDAQ indicated the Company should trade for 10 calendar days at a minimum of $50,000,000 Market Value of Listed Securities after conversion to comply with the Listing Rules. On April 4, 2023 the Company reported to NASDAQ that the Company does not meet the required listed securities to maintain a minimum Market Value of Publicly Held Shares (MVPHS) of $15,000,000. On the same day, NASDAQ provided a letter of no

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

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

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value

Exact text from the filing

April 3, 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 $50,000,000 Market Value of Listed Securities (MVLS) for continued listing on Nasdaq Global Market and did not comply with Listing Rules. Following receipt of the Notice, the Company promptly responded on April 4, 2023 and informed NASDAQ that the Company had 3,791,677 Class B shares available for voluntary conversion to 3,791,677 Class A shares to achieve

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SYNTEC OPTICS HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0001493152-23-011684

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