The Staff Determination was issued due to the Company's failure to comply with the following Nasdaq’s continued listing requirements:
1. Listing Rule 5450(a)(2), which requires a minimum of 400 total shareholders;
2. Listing Rule 5250(c)(1), due to the Company's failure to timely file its Annual Report on Form 10-K for the fiscal year ended
According to the Staff Determination, unless the Company requests an appeal of the Staff Determination, trading of the Company's securities will be suspended at the opening of business on
The Company intends to timely request a hearing before a
About
The Company is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business combination with one or more businesses. The Company’s efforts to identify a prospective target business will not be limited to a particular business, industry, sector or geographical region.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect our current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties, including those identified below, which could cause actual results to differ materially from those anticipated in the forward-looking statements.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. In light of these risks, uncertainties, and assumptions, the forward-looking events discussed in this press release might not occur.
Investor Contact:
contact@embracechange.top
![](https://ml.globenewswire.com/media/YzNkZjE0Y2YtNzZlOC00ZDk4LTlkMDUtZmJiNGMzYmQ0MjE0LTEyNTc3NjA=/tiny/Embrace-Change-Acquisition-Cor.png)
2024 GlobeNewswire, Inc., source