Relativity Acquisition said it was notified by the Nasdaq that its securities will be delisted based on the company’s unpaid past due balance of $81,000 in fees owed to the exchange.
The SPAC did not say whether it would pay the fees or pursue a listing on another exchange.
Relativity has a merger agreement with SVES, an off-price apparel distribution company based in Florida.
The deal had a pro forma enterprise value of $707.25 million when announced a year ago.
SVES was founded in 2017 to fill a gap in the retail supply chain by providing full-price retail fashion brands an efficient and effective way to monetize overstocked items.
Initially focused on cannabis companies, Relativity raised $143.75M in a February 2022 IPO. The SPAC recently extended its completion deadline to November. Read more.
