OceanTech Acquisitions I Corp.: Nasdaq/NYSE listing notice — OceanTech gets Nasdaq deficiency for insufficient public holders; delisting risk rises

OceanTech Acquisitions I Corp.

Nasdaq notified OceanTech on Sept 13, 2023, that it fails minimum 300 public holders requirement for continued listing on Nasdaq Capital Market.
Company also has pending MVLS deficiency; hearing before Nasdaq Panel set for Sept 21, 2023, where it will address both issues.
Business operations remain unaffected but compliance with listing rules is uncertain; company evaluating options.

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 0.7

OceanTech Acquisitions I Corp. received a nasdaq other notice regarding market value (rules 5550(b)(2)).

Exchange: nasdaq
Deficiency: market value
Rules: 5550(b)(2)

Exact text from the filing

September 13, 2023, the Company received written notice (the “Notification Letter”) from Nasdaq stating that the Company currently does not meet the required minimum of 300 public holders for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(3). The Notification Letter further states that the Panel will consider this matter in rendering a determination regarding the Company’s continued listing on The Nasdaq Capital Market. Pursuant to Listing Rule 5810(d), the Company intends to present its views with respect to this additional deficiency at its hearing with the

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Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.85

OceanTech Acquisitions I Corp. received a nasdaq delisting notice notice regarding market value (rules 5550(b)(2)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: market value
Rules: 5550(b)(2)

Exact text from the filing

d; Transfer of Listing Purchase Agreement. As previously disclosed, on July 25, 2023, OceanTech Acquisitions I Corp., a Delaware Corporation (the “Company”), received written notice from The Nasdaq Stock Market (“Nasdaq”) stating that the Company had not regained compliance with Nasdaq Listing Rule 5550(b)(2) for the market value of listed securities requirement (the “MVLS rule”) within the applicable compliance period, and on July 27, 2023, the Company requested a hearing to appeal such determination, which hearing is scheduled to be held before the Nasdaq Hearings Panel (the “Panel”) on Sept

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Source: SEC EDGAR

accession 0001753926-23-001224

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