The Nasdaq Stock Market announced that it will delist the ordinary shares, warrant, unit, and rights of Alberton Acquisition. The SPAC’s shares were suspended on April 26 and have not traded on the Nasdaq since that time.
That was less than two weeks after SolarMax walked away from a deal with Alberton. The SPAC began the liquidation process on April 26. Over the last year and a half Alberton received at least two shareholder and two Nasdaq deadline extensions to close the transaction, which was originally announced in October 2020.
In an odd coincidence, as Alberton was being delisted, SolarMax filed an S-1 for its own IPO of 7.5 million shares targeting a $30 million raise, having applied to list on the Nasdaq. SolarMax had previously filed for a $16 million IPO in October 2020, but withdrew the offering when it struck a deal to go public through Alberton.
SolarMax is an integrated solar energy company. It was founded in 2008 to conduct business in the U.S. and subsequently commenced operation in China following two acquisitions in 2015. Read more.
