---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-018639"
form_type: "8-K"
ticker: null
cik: "0001857855"
company_name: "Finnovate Acquisition Corp."
filed_at: "2024-05-10T23:59:59+00:00"
generated_at: "2026-06-02T04:12:48.393670+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Finnovate Acquisition Corp. receives Nasdaq delisting notice over minimum public holders rule

## Summary
- Nasdaq notified Finnovate on May 6, 2024 that it failed to regain compliance with the 400 public holders requirement.
- Unless a hearing is requested, securities will be suspended and delisted from Nasdaq Global Market on May 15, 2024.
- Company intends to request a hearing before the Nasdaq Hearings Panel and pay the $20,000 fee to appeal.
- Hearing request will stay suspension; no assurance the Panel will grant continued listing.

## SEC filing metadata
- accession: 0001493152-24-018639
- form_type: 8-K
- cik: 0001857855
- company_name: Finnovate Acquisition Corp.
- filed_at: 2024-05-10T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 3.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1857855/000149315224018639/0001493152-24-018639-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1857855/000149315224018639/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-018639
- JSON: https://secwatch.observer/filing/0001493152-24-018639.json
- Plain text: https://secwatch.observer/filing/0001493152-24-018639.txt

## Key facts
- Listing & Compliance Notices
  Finnovate Acquisition Corp. received a nasdaq delisting notice notice regarding shareholders (rules 5450(a)(2)).
  - Exchange: nasdaq
  - Notice: delisting notice
  - Deficiency: shareholders
  - Rules: 5450(a)(2)
  source text: May 6, 2024, Finnovate Acquisition Corp., a Cayman Islands exempted company (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 since it was first notified on October 9, 2023, the Company had not regained compliance with Nasdaq Listing Rule 5450(a)(2), which requires a listed company to maintain a minimum of 400 public holders. Pursuant to the Notice, unless the Company timely requests a hearing before the Nasdaq Hearings Panel (the “Panel”), the Company’s securities wil
  evidence_url: https://www.sec.gov/Archives/edgar/data/1857855/000149315224018639/0001493152-24-018639-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.