Liberty Resources Acquisition (Nasdaq: LIBY, LIBYW, LIBYU) said it deposited $150,000 into the company’s trust account to extend its deal deadline to Jan. 8, 2024.
The SPAC also said that it was notified by the Nasdaq that it has not regained compliance with listing rules requiring the company to maintain a market value of at least $50 million and a minimum 1.1 million publicly held shares, as well as a rule requiring at least 400 total holders. The SPAC has until 4 p.m. Eastern on Dec. 13 to appeal the decision and said it intends to do so.
Liberty was first warned by the exchange about its listing deficiencies in June.
Malaysia-based Liberty entered into a business combination with Caspi Oil Gas in December 2022 at a proforma enterprise value of $427.7 million at that time. Read more.
