regulatory
confidence high
sentiment negative
materiality 0.75
Nasdaq notifies TETE of delisting for failing minimum shareholders rule; hearing requested by Oct 15
Technology & Telecommunication Acquisition Corp
- On Oct 8, 2024, TETE received Nasdaq notice for noncompliance with minimum 400 total shareholders requirement (Listing Rule 5450(a)(2)).
- Company has until Oct 15, 2024 to request a hearing before the Nasdaq Hearings Panel; intends to do so.
- If no hearing requested, trading suspended at open on Oct 17, 2024 and Form 25 NSE will be filed to delist securities.
- No assurance that Panel will grant further extension or that company will ultimately regain compliance.