AltEnergy Acquisition in a regulatory filing said it received notice from the Nasdaq that it was not in compliance with the listing rule that requires at least 400 investors for continued listing on the exchange.
The SPAC has until Nov. 23 to regain compliance or submit a plan for doing so. If the Nasdaq rejects the plan, AltEnergy may appeal.
AltEnergy originally raised $230 million in a November 2021 IPO to focus on companies engaged in clean and renewable energy. The SPAC’s current deadline extension runs to May 2024. Read more.
