Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On January 11, 2023, Summit Healthcare Acquisition Corp. (the "Company")
received a letter from The Nasdaq Stock Market LLC ("Nasdaq"), which stated that
the Company no longer complies with Nasdaq's continued listing rules due to the
Company not having held an annual meeting of shareholders within 12 months of
the Company's fiscal year end, as required pursuant to Nasdaq Listing Rule
5620(a). In accordance with Nasdaq Listing Rule 5810(c)(2)(G), the Company has
45 calendar days to submit a plan to regain compliance and, if Nasdaq accepts
the plan, Nasdaq can grant the Company an exception of up to 180 calendar days
from the fiscal year end, or until June 29, 2023, to regain compliance. The
Company plans to submit a compliance plan within the specified period.
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