Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
Atlantic Coastal Acquisition Corp. (the "Company") previously filed a Form
12b-25 with the Securities and Exchange Commission (the "SEC") on May 15, 2023
to extend the due date for the filing of its quarterly report on Form 10-Q for
the quarter ended March 31, 2023 (the "Report"). The Form 12b-25 disclosed that
the Report was unable to be filed on time because the Company required
additional time to finalize its financial statements. Such further delay in
filing the Report past the deadline set forth in the Form 12b-25 is in
connection with further additional time required to finalize the Company's
financial statements.
On May 24, 2023, the Company received notice (the "Notice") from the Nasdaq
Stock Market LLC ("Nasdaq") that the Company was not in compliance with Nasdaq's
continued listing standards (the "Listing Rules") as set forth in Listing Rule
5250(c)(1) given the Company's failure to timely file the Report. Consistent
with the Listing Rules, the Company has 60 calendar days from the date of the
Notice to provide Nasdaq with a specific plan to achieve and sustain compliance
with the Listing Rules. On May 25, 2023, the Company filed the Report.
On May 26, 2023, in accordance with Nasdaq's procedures, the Company issued a
press release disclosing the receipt of the May 24, 2023 letter from Nasdaq. A
copy of the press release is included herewith as Exhibit 99.1 and incorporated
herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
99.1 Press Release dated May 26, 2023
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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