American Acquisition Opportunity in an 8-K said that because it had not timely filed for an appeal of the delisting notification it had received from Nasdaq, its shares would be removed from the exchange. However, the Nasdaq subsequently determined that due to extenuating circumstances it would permit the SPAC to move forward with an appeal and trading has resumed. A hearing has not yet been scheduled.
The SPAC fell out of compliance with the Nasdaq’s minimum market value listing rule (MVLS).
American Acquisition Opportunity entered a definitive agreement to buy Royalty Management in June 2022.
The SPAC’s completion deadline is Oct. 31, although a shareholders meeting is planned to consider an extension to the end of the year.
Royalty focuses on current revenue streams through undervalued resources that fit the modern infrastructure market while making investments in assets that fit tomorrow’s electrification, mineral resources and infrastructure needs, according to a press release issued at the time. Read more.
