NorthView Acquisition Corp. Faces Nasdaq Delisting Notice

TL;DR

NVAC got a delisting notice from Nasdaq, might get kicked off the exchange.

AI Summary

NorthView Acquisition Corp. announced on March 7, 2024, that it received a notice from the Nasdaq Stock Market indicating a failure to meet continued listing requirements. The company is currently evaluating the notice and plans to respond to the Nasdaq staff.

Why It Matters

This notice suggests NorthView Acquisition Corp. may be delisted from the Nasdaq, impacting its stock liquidity and investor confidence.

Risk Assessment

Risk Level: high — Receiving a delisting notice from a major stock exchange like Nasdaq poses a significant risk to the company's continued trading and market presence.

Key Players & Entities

• NorthView Acquisition Corp. (company) — Registrant
• Nasdaq Stock Market (company) — Exchange that issued the notice
• March 7, 2024 (date) — Date of the earliest event reported
• March 8, 2024 (date) — Date of report

FAQ

Key Financial Figures

• $0.0001 — red Shares of common stock, par value $0.0001 per share NVAC The NASDAQ Stock Mar
• $11.50 — of common stock at an exercise price of $11.50 per whole share NVACW The NASDAQ St
• $15 m — alue of Publicly Held Shares (MVPHS) of $15 million, as set forth in Nasdaq Listing R
• $15 million — ause the MVPHS of the Company was below $15 million for the 30 consecutive business days pr

Filing Documents

• ea0201427-8k_northview.htm (8-K) — 35KB
• 0001213900-24-021100.txt ( ) — 260KB
• nvac-20240307.xsd (EX-101.SCH) — 4KB
• nvac-20240307_def.xml (EX-101.DEF) — 27KB
• nvac-20240307_lab.xml (EX-101.LAB) — 37KB
• nvac-20240307_pre.xml (EX-101.PRE) — 25KB
• ea0201427-8k_northview_htm.xml (XML) — 7KB

01. Notice of Delisting or Failure to Satisfy a Continued Listing

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On March 7, 2024, NorthView Acquisition Corp. (the "Company") received a written notice (the "Notice") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") stating that the Company is not in compliance with the requirement to maintain a minimum Market Value of Publicly Held Shares (MVPHS) of $15 million, as set forth in Nasdaq Listing Rule 5450(b)(2)(C) (the "MVPHS Requirement"), because the MVPHS of the Company was below $15 million for the 30 consecutive business days prior to the date of the Notice. The Notice does not impact the listing of the Common Stock on The Nasdaq Global Market at this time. The Notice provided that, in accordance with Nasdaq Listing Rule 5810(c)(3)(D), the Company has a period of 180 calendar days from the date of the Notice, or until September 3, 2024, to regain compliance with the MVPHS Requirement. During this period, the Common Stock will continue to trade on The Nasdaq Global Market. If at any time before September 3, 2024the MVPHS closes at $15 million or more for a minimum of ten consecutive business days, Nasdaq will provide written notification that the Company has achieved compliance with the MVPHS Requirement and the matter will be closed. In the event that the Company does not regain compliance by September 3, 2024, the Company will receive written notification that its securities are subject to delisting. At that time, the Company may appeal the delisting determination to a Hearings Panel. The Notice provides that the Company may be eligible to transfer the listing of its securities to The Nasdaq Capital Market (provided that it then satisfies the requirements for continued listing on that market). The Company intends to actively monitor its MVPHS and will evaluate available options to regain compliance with the MVPHS Requirement. However, there can be no assurance that the Compa

View Full Filing

View this 8-K filing on SEC EDGAR