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African Agriculture | 8-K: Current report

SEC announcement ·  Mar 28 04:05
Summary by Futu AI
On March 21, 2024, African Agriculture Holdings Inc. received a notification from Nasdaq regarding its non-compliance with the minimum Market Value of Listed Securities (MVLS) requirement of $50 million for continued listing on The Nasdaq Global Market. The company's MVLS had been below the threshold for 32 consecutive business days. Despite this, the company's common stock and warrants remain listed and trading on Nasdaq, with an added non-compliance indicator on NASDAQ.com. African Agriculture Holdings Inc. has been given a 180-day period, until September 17, 2024, to regain compliance by ensuring its MVLS closes at or above $50 million for at least ten consecutive business days. If compliance is not achieved, the company may consider transferring its listing to The Nasdaq Capital Market or appealing a delisting decision to a Nasdaq Hearings Panel. The company is exploring options to address the deficiency and there is no guarantee of regaining or maintaining Nasdaq listing standards.
On March 21, 2024, African Agriculture Holdings Inc. received a notification from Nasdaq regarding its non-compliance with the minimum Market Value of Listed Securities (MVLS) requirement of $50 million for continued listing on The Nasdaq Global Market. The company's MVLS had been below the threshold for 32 consecutive business days. Despite this, the company's common stock and warrants remain listed and trading on Nasdaq, with an added non-compliance indicator on NASDAQ.com. African Agriculture Holdings Inc. has been given a 180-day period, until September 17, 2024, to regain compliance by ensuring its MVLS closes at or above $50 million for at least ten consecutive business days. If compliance is not achieved, the company may consider transferring its listing to The Nasdaq Capital Market or appealing a delisting decision to a Nasdaq Hearings Panel. The company is exploring options to address the deficiency and there is no guarantee of regaining or maintaining Nasdaq listing standards.
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