Blue World Acquisition in an 8-K sdaid it received notice from the Nasdaq that for the previous 30 consecutive business days, the Market Value of Listed Securities for the SPAC was below the $50 million minimum requirement for continued listing.
Blue World has until June 3, 2024 to regain compliance.
The SPAC said it is monitoring its MLVS and evaluating options to regain compliance.
Blue World in August announced a merger agreement with Vietnam Sunergy Cell Company Limited (dba TOYO).
The SPAC raised $92 million in a February 2022 IPO. Read more.
