A SPAC I Acquisition in an 8-K said it was notified by the Nasdaq this week that it has fallen below the the minimum 300 public stockholders threshold for a continued listing on the exchange.
The SPAC has 45 calendar days to submit a plan to regain compliance and, if Nasdaq accepts the plan, Nasdaq can grant A SPAC I an extension of up to 180 calendar days from the date of the letter to regain compliance.
The SPAC said it plans to submit a compliance plan within the specified period.
A SPAC I initially raised $60 million in February 2022 to target the technology and e-commerce industries with a focus in Asia and on companies with an enterprise value of between $250 million and $600 million, excluding any company in China. Read more.
