SBC Medical Group Holdings Inc (SBC): Nasdaq/NYSE listing notice — Pono Capital Two receives two Nasdaq deficiency notices; faces delisting risk

SBC Medical Group Holdings Inc

On May 6,2024, Nasdaq notified that MVPHS fell below $15M for 34 consecutive days; must regain compliance by Nov 4,2024.
On May 7,2024, Nasdaq notified failure to maintain minimum 400 total holders; must submit a compliance plan within 45 days.
Previously disclosed on Apr 2,2024, deficiency in minimum public shares (1.1M shares); plan due by May 17,2024.
Company is evaluating courses of action but cannot assure regaining compliance with any of the requirements.

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

SBC Medical Group Holdings Inc 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 6, 2024, Pono Capital Two, Inc., a Delaware corporation (the “Company”) received a written notice from the Nasdaq Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) stating that the Company’s listed securities failed to maintain a minimum Market Value of Publicly Held Shares (“MVPHS”) of $15,000,000 which is a requirement for continued listing on The Nasdaq Global Market in accordance with Nasdaq Listing Rule 5450(b)(2)(C) (the “MVPHS Requirement”) based upon the Company’s MVPHS for the 34 consecutive business days prior to the date of the notice. The notice has no imm

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

SBC Medical Group Holdings Inc received a nasdaq deficiency notice notice regarding other (rules 5450(a)(2)).

Exchange: nasdaq
Notice: deficiency notice
Rules: 5450(a)(2)

Exact text from the filing

May 7, 2024, the Company received a separate written notice from Nasdaq stating that the Company no longer complies with Nasdaq’s continued listing rules on The Nasdaq Global Market due to the Company not having maintained a minimum of 400 total holders for continued listing, as required pursuant to Nasdaq Listing Rule 5450(a)(2) (the “Total Holders Requirement”). The notice has no immediate effect on the listing of the Company’s securities on Nasdaq. In accordance with the Nasdaq listing rules, the Company has 45 calendar days to submit a plan to regain compliance and, if Nasdaq accepts the p

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20 listing & compliance notices filed in the last 30 days. Browse all listing & compliance notices →

SBC Medical Group Holdings Inc filing history →

Source: SEC EDGAR

accession 0001493152-24-018277

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