DP Cap Acquisition in an 8-K said the Nasdaq informed it of a listing deficiency. The SPAc no longer meets the minimum threshold of 400 shareholders for continued listing on the exchange and has until Nov. 27 either to regain complaince or submit a plan for doing so. DP Cap said it would submit a plan.
The SPAC last ran afoul of the Nasdaq in August when it fell below the minimum $50 million market cap for a listing on the exchange.
DP Cap raised $200 million in a December 2021 IPO, although redemptions since them have eaten away at the SPAC’s cash in trust. The SPAC’s acquisition thesis is on the tech-enabled consumer and technology sectors, with a specific focus on e-commerce and marketplaces and enterprise software. Read more.
