Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On May 23, 2023, Genesis Growth Tech Acquisition Corp. (the "Company") received
a notification letter from the Listing Qualifications Department of The Nasdaq
Stock Market LLC ("Nasdaq") stating the Company was not in compliance with
Nasdaq Listing Rule 5250(c)(1), as a result of not having timely filed its
Quarterly Report on Form 10-Q for the period ended March 31, 2023 and for
remaining delinquent in filing its Annual Report on Form 10-K for the year ended
December 31, 2022, which Nasdaq had previously notified the Company by letter
dated April 19, 2023.
The Nasdaq notification letter has no immediate effect on the listing of the
Company's units, common stock or warrants on The Nasdaq Global Market. The
Nasdaq notification letter provides the Company until June 20, 2023, to submit a
plan to Nasdaq to regain compliance with the NASDAQ's continued listing
requirements. If the plan is accepted, Nasdaq can grant an exception of up to
180 calendar days, or until October 16, 2023, for the Company to regain
compliance. If Nasdaq does not accept the Company's compliance plan, the Company
will have the opportunity to appeal that decision to a Hearing Panel under
Nasdaq Listing Rule 58150.
On May 26, 2023, the Company issued a press release announcing the receipt of
the Nasdaq notification letter. A copy of the press release is attached hereto
as Exhibit 99.1.
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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