Alberton Acquisition announced that on May 3, the company received confirmation that it had regained compliance with Nasdaq Listing Rule 5620(a) which requires companies to hold an annual meeting of shareholders within 12 months of the end of the fiscal year.
Based on the SPAC’s Form 8-K filed April 26, the company’s proxy distributed on April 15, and its annual shareholders meeting April 23, the Listing Qualifications Department of Nasdaq has determined that the company regained compliance.
Alberton is in a pending $300 million merger with SolarMax, announced in October. Since then, the SPAC has faced a law firm’s investigation of the deal, dealt with the Nasdaq on the compliance issue, and issued dividend warrants to shareholders who approved a deadline extension for Alberton last year. Read more.
