Zalatoris II Acquisition said it was notifed by the Nasdaq for being out of compliance with a rule that requires the SPAC to maintain at least 300 shareholders for a continued listing on the exchange.
Zalatoris II has until Nov. 13 to submit a plan for regaining compliance. If Nasdaq accepts the plan, the company will have up to 180 calendar days from the date of the notice to regain compliance. If Nasdaq does not accept the plan, the SPAC may appeal.
Zalatoris II said it intends to regain compliance prior to Nov. 13. Read more.
