Berenson Acquisition I said it was notified by the NYSE American for non-compliance with listing standards for failing to file a 10-K for the year ended Dec. 31.
During the six-month period from the date of the delinquency the NYSE will monitor the SPAC and the status of the report.
Berenson I in January was faced with a delisting for falling below a minimum of 300 public stockholders on a continuous basis.
The SPAC in December announced a business combination agreement with Custom Health at a $185 million pre-money equity value.
The target provides a comprehensive technology-enabled medication management and managed care solution, resulting in 98% medication adherence for its patients across the United States and Canada, according to a press release announcing the merger agreement.
The SPAC originally raised $275 million in an October 2021 IPO with plans to focus on businesses operating in the software and technology-enabled services industry. However, more than 96% of its shares have been redeemed since then. Read more.
