Crescera Capital Acquisition in a regulatory filing said it received notice from the Nasdaq that its stock faces delisting July 11because the SPAC has fallen below the minimum market cap and the rule requiring at least 600,000 publicly held shares.
“Accordingly, Nasdaq informed us that a Form 25-NSE will be filed with the Securities and Exchange Commission (the “SEC”), which will remove the company’s securities from listing and registration on The Nasdaq Stock Market.”
The filing does not state whether the SPAC intends to appeal the decision or attempt to regain compliance.
The SPAC had raised $175 million in a November 2021 IPO to raise capital for the acquisition of a Latin American company, but has yet to announce a deal. Read more.
