Aura Fat Projects Acquisition Corp: Nasdaq/NYSE listing notice — Nasdaq warns Aura FAT Projects of delisting for low market value; SPAC extends combination deadline

Aura Fat Projects Acquisition Corp

Nasdaq notified AFARU on Dec 11 that its MVLS fell below $50M, triggering a 180-day compliance period.
Company deposited $50,000 into trust to extend business combination deadline from Dec 18, 2023 to Jan 18, 2024.
The delisting notice does not currently affect trading; company intends to regain compliance.
SPAC must consummate an initial business combination by Jan 18, 2024, unless further extended.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.98

Aura Fat Projects Acquisition Corp received a nasdaq deficiency notice notice regarding market value (rules 5450(b)(2)(A)).

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

Exact text from the filing

December 11, 2023, Aura FAT Projects Acquisition Corp, a Cayman Islands exempted company limited by shares, with company registration number 384483 (the “ Company ”), received a written notice from the Listing Qualifications Department of The Nasdaq Stock Market (“ Nasdaq ”) indicating that since the Company’s Market Value of Listed Securities was less than $50 million, the Company was no longer in compliance with the Nasdaq Global Market continued listing criteria set forth in Listing Rule 5450(b)(2)(A), which requires the Company to maintain a Market Value of Listed Securities of at least $5

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Source: SEC EDGAR

accession 0001829126-23-008051

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