Iris Acquisition said it received notice last week from the Nasdaq that it is out of compliance with the minimum 500,000 publicly held shares requirement for a continued listing on the exchange.
The SPAC has 45 calendar days to submit a plan to regain compliance.
Iris said it is evaluating “various courses of action to achieve compliance.”
The SPAC has lost nearly 98% of its trust to redemptions in the last 15 months. Read more.
