Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On April 19, 2023, Monterey Capital Acquisition Corporation (the "Company")
received a notification letter from the NASDAQ Listing Qualifications ("NASDAQ")
stating the Company was not in compliance with NASDAQ Listing Rule 5250(c)(1),
due to its failure to timely file its Annual Report on Form 10-K for the year
ended December 31, 2022 (the "2022 10-K"). The NASDAQ notification letter
provides the Company 60 calendar days from the date of the notification, or
until June 20, 2023, to submit a plan to NASDAQ to regain compliance with
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 Listing Rule 5815(a). The NASDAQ notification letter
has no immediate effect on the listing of the Company's securities on the NASDAQ
Global Market.
The Company filed the 2022 10-K on April 20, 2023.
On April 21, 2023, the Company issued a press release announcing the receipt of
the non-compliance letter from NASDAQ. 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 April 21, 2023.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
© Edgar Online, source Glimpses