Mountain Crest Acquisition Corp. V (MCAG): Nasdaq/NYSE listing notice — Mountain Crest Acquisition transfers to Nasdaq Capital after failing Global Market listing rules

Mountain Crest Acquisition Corp. V

Received Nasdaq approval Oct 23; transfer effective Oct 27, 2023, with same tickers MCAG, MCAGU, MCAGR.
Previously failed Global Market requirements: MVLS < $50M, publicly held shares < 1.1M, MVPHS < $15M.
Transfer resolves all deficiencies as Capital Market has less stringent continued listing standards.
Company remains a blank-check SPAC seeking a business combination; trading unaffected by transfer.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.82

Mountain Crest Acquisition Corp. V received a nasdaq deficiency notice notice regarding market value (rules 5450(b)(2)(A), 5450(b)(3)(C)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5450(b)(2)(A), 5450(b)(3)(C)

Exact text from the filing

May 18, 2023, the Company received a letter from Nasdaq stating that the Company failed to maintain the minimum 1,100,000 publicly held shares as required by the Nasdaq continued listing rules, and (iii) June 27, 2023, the Company received a letter from Nasdaq stating that the Company’s publicly held shares 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) based upon the Company’s MVPHS for the 30 consecutive business days prior

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Mountain Crest Acquisition Corp. V filing history →

Source: SEC EDGAR

accession 0001829126-23-006771

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