RCF Acquisition said it was notified by the NYSE that the company is not in compliance with the continued listing standards that require it to maintain a minimum of 300 public stockholders. The SPAC has 45 days to submit a plan that would bring it into compliance by no later than Nov. 15. RCF said it would submit a plan.
The SPAC in November announced the transfer of sponsor management to Perception Capital Partners IV, a private and public investment firm and serial sponsor of SPACs.
Redemptions ahead of an extension vote last May left approximately $136.7 million in the SPAC’s trust. RCF raised $200 million in a November 2021 IPO to focus on businesses of scale across the critical minerals value chain. Read more.
