Alberton Acquisition announced that the Nasdaq had granted its request to continue listing on the exchange through April 26 while it works to complete a merger with SolarMax Technology.
In December, the SPAC presented a plan to regain compliance with a Nasdaq listing rule that requires blank-check companies to complete one or more business combinations within 36 months of the effectiveness of its IPO registration statement. Albertson said it still needs additional time to prepare audited financial statements in an S-4 filing for the fiscal year ended Dec. 31, both for itself and SolarMax.
The SPAC’s first extension granted by the Nasdaq was valid through March 14.
The SolarMax deal, valued at $300 million, was announced more than a year ago. Read more.
