RF Acquisition said it received notification from the Nasdaq that it is not in compliance with the minimum Market Value of Listed Securities requirement. The listing rule requires companies to maintain a minimum market value of $50 million. A deficiency exists if a company falls below the minumum for 30 consecutive business days.
The SPAC has until Dec. 6 to regain compliance. RF Acquisition has faced other delisting warnings from the Nasdaq, including for failure to file timely forms 10-K.
RF Acquisition initially raised $115 million in an April 2022 IPO with plans to acquire a company within the Southeast Asian new economy sector or elsewhere, excluding China, Hong Kong and Macau. Read more.
