Blue Water Acquisition said that it received notice from the Listing Qualifications Department of the Nasdaq for failure to file a timely annual report.
The notice has no immediate effect on the listing or trading of the SPAC’s securities. Blue Water is among several blank-check companies to receive the Nasdaq warning as SPAC’s evaluate the SEC’s statement last week on new accounting for warrants. The regulator also said it will take a closer look at SPAC merger projections.
Blue Water has until June 15 to file a 10-K or send Nasdaq a plan of action to regain compliance. Read more.
