The New York Stock Exchange in a statement said it will immediately suspend trading and begin delisting the warrants of Pivotal Investment III.
Trading in the SPAC’s Class A Common Stock — ticker symbol PICC — and Units — ticker symbol PICC.U — will continue.
NYSE Regulators said they determined that Pivotal’s warrants are no longer suitable for listing based on “abnormally low” price levels.
The SPAC has a right to a review of the decision.
Pivotal raised $200 million in a January 2021 IPO to focus on industries “ripe for disruption from continuously evolving digital technology and the resulting shift in distribution patterns and consumer purchase behavior.” Read more.
