Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On April 19, 2023, Clover Leaf Capital Corp. (the "Company") received a
deficiency letter from the Listing Qualifications Department (the "Staff") of
the Nasdaq Stock Market ("Nasdaq") notifying the Company that the Company longer
meets the minimum 500,000 publicly held shares requirement for The Nasdaq
Capital Market pursuant to Nasdaq Listing Rule 5550(a)(4) (the "Public Shares
Requirement"). The notification received has no immediate effect on the
Company's Nasdaq listing. In accordance with Nasdaq rules, the Company has 45
calendar days, or until June 5, 2023, to submit a plan to regain compliance with
the Public Shares Requirement.
On April 21, 2023, the Company received a deficiency letter from the Staff of
Nasdaq notifying the Company that, for the preceding 30 consecutive business
days, the Company's Market Value of Listed Securities ("MVLS") was below the $35
million minimum requirement for continued inclusion on The Nasdaq Capital Market
pursuant to Nasdaq Listing Rule 5550(b)(2) (the "MVLS Requirement").
The notification received has no immediate effect on the Company's Nasdaq
listing. In accordance with Nasdaq rules, the Company has been provided an
initial period of 180 calendar days, or until October 18, 2023 (the "Compliance
Date"), to regain compliance with the MVLS Requirement. If, at any time before
the Compliance Date, the Company's MVLS closes at $35 million or more for a
minimum of 10 consecutive business days, the Staff will provide the Company
written confirmation of compliance with the MVLS Requirement.
The Company intends to monitor the market value of the Company's listed
securities and may, if appropriate, consider available options to regain
compliance with the MVLS Requirement.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
See the Exhibit Index below, which is incorporated by reference herein.
Exhibit No. Description
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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CLOVER LEAF CAPITAL CORP. 
