UTA Acquisition in an 8-K said it was informed by the Nasdaq that its warrants will be delisted from the exchange. The decision is due to non-compliance with a listing rule that requires warrants to be held by at least 100 investors.
The SPAC said it does not plan to appeal.
UTA raised $200 million in a December 2021 IPO. The company at that time said it intends to complete a merger with a business operating in the gaming, digital media, creator economy, entertainment and technology industries. Read more.
