Mountain Crest Acquisition Corp. V (MCAG): Nasdaq/NYSE listing notice — MCAG receives Nasdaq delisting notice for failing MVPHS minimum of $15M

Mountain Crest Acquisition Corp. V

On June 27, 2023, Nasdaq notified MCAG that its Market Value of Publicly Held Shares (MVPHS) fell below $15M for 30 consecutive business days.
Company has until December 26, 2023 to submit a compliance plan; must maintain MVPHS ≥$15M to regain compliance.
MCAG also faces prior deficiencies: MVLS <$50M (April 2023) and publicly held shares <1.1M (May 2023).
Company has applied for transfer from Nasdaq Global Market to Nasdaq Capital Market.
There is no immediate effect on listing, but continued listing is uncertain.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

Mountain Crest Acquisition Corp. V received a nasdaq noncompliance notice notice regarding market value (rules 5450(b)(3)(C)).

Exchange: nasdaq
Notice: noncompliance notice
Deficiency: market value
Rules: 5450(b)(3)(C)

Exact text from the filing

June 27, 2023, Mountain Crest Acquisition Corp. V, a Delaware corporation (the “Company”), received a notice (the “Notice”) from the Nasdaq Stock Market LLC (“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)(3)(C) (the “MVPHS Requirement”) based upon the Company’s MVPHS for the 30 consecutive business days prior to the date of the Notice. The Notice has no immediate effect on the

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Mountain Crest Acquisition Corp. V filing history →

Source: SEC EDGAR

accession 0001829126-23-004524

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