Current Report Filing (8-k)
23 May 2023 - 6:11AM
Edgar (US Regulatory)
0001914023
false
0001914023
2023-05-19
2023-05-19
0001914023
ACACU:UnitsEachConsistingOfOneShareOfClassCommonStockAndOnhalfOfOneWarrantMember
2023-05-19
2023-05-19
0001914023
ACACU:ClassCommonStockParValue0.0001PerShareMember
2023-05-19
2023-05-19
0001914023
ACACU:WarrantsEachWholeWarrantExercisableForOneShareOfClassCommonStockAtExercisePriceOf11.50Member
2023-05-19
2023-05-19
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
United States
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
May 22, 2023 (May 19, 2023)
Date of Report (Date of earliest event reported)
Acri Capital Acquisition
Corporation
(Exact Name of Registrant as Specified in its Charter)
Delaware |
|
001-41415 |
|
87-4328187 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(I.R.S. Employer
Identification No.) |
13284 Pond Springs Rd, Ste 405
Austin, Texas |
|
78729 |
(Address of Principal Executive Offices) |
|
(Zip Code) |
Registrant’s telephone number, including area
code: 512-666-1277
N/A
(Former name or former address, if changed since last
report)
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ |
Written communications pursuant to Rule 425 under the Securities Act |
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act |
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act |
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act |
Securities registered pursuant to Section 12(b) of the Act: None.
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
Units, each consisting of one share of Class A Common Stock and on-half of one Warrant |
|
ACACU |
|
The Nasdaq Stock Market LLC |
|
|
|
|
|
Class A Common Stock, par value $0.0001 per share |
|
ACAC |
|
The Nasdaq Stock Market LLC |
|
|
|
|
|
Warrants, each whole warrant exercisable for one share of Class A Common Stock at an exercise price of $11.50 |
|
ACACW |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an
emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange
Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☒
If an emerging growth company, indicate by check mark
if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act.
Item 3.01 Notice of Delisting
or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On May 19, 2023, Acri Capital
Acquisition Corporation (the “ Company ”) received a letter (the “ Letter ”)
from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“ Nasdaq ”) that, for the previous
30 consecutive business days, the Market Value of Listed Securities (“MVLS”) for the Company was below the $50 million
minimum MVLS requirement for continued listing on the Nasdaq Global Market (the “Global Market”) under Nasdaq Listing Rule
5450(b)(2)(A) (the “ MVLS Rule ”). The Letter is only a notification of deficiency, not of imminent delisting,
and has no current effect on the listing or trading of the Company’s securities.
In accordance with Nasdaq
Listing Rule 5810(c)(3)(C), the Company will have 180 calendar days, or until November 15, 2023 (the “Compliance Period”),
to regain compliance with the MVLS Rule. To regain compliance with the MVLS Rule, the MVLS for the Company must be at least $50 million
for a minimum of 10 consecutive business days at any time during this Compliance Period. If the Company regains compliance with the MVLS
Rule, Nasdaq will provide the Company with written confirmation and will close the matter.
If the Company does not regain
compliance with the MVLS Rule by the Compliance Date, Nasdaq will provide written notification that its securities will be subject to
delisting. In the event of such notification, the Nasdaq rules permit the Company an opportunity to appeal Nasdaq’s determination.
The Letter notes that the Company may be eligible to transfer the listing of its securities to the Nasdaq Capital Market (the “Capital
Market”), provided that it then satisfies the requirements for continued listing on the Capital Market. On May 22, 2023, the Company
submitted an application for a transfer from the Global Market to the Capital Market, which is currently pending review by Nasdaq.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Number |
|
Description |
|
|
|
104 |
|
Cover Page Interactive Data File (embedded within the Inline XBRL document) |
|
|
|
|
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
Acri Capital Acquisition Corporation |
|
|
Date: May 22, 2023 |
By: /s/ “Joy” Yi Hua |
|
Name: “Joy” Yi Hua |
|
Title: Chief Executive Officer |
Acri Capital (NASDAQ:ACAC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Acri Capital (NASDAQ:ACAC)
Historical Stock Chart
From Apr 2023 to Apr 2024