Plum Acquisition Corp. III Faces Nasdaq Delisting Notice

TL;DR

Nasdaq's kicking PLMJ off the exchange, they're fighting back.

AI Summary

Plum Acquisition Corp. III announced on July 30, 2024, that it received a notice from the Nasdaq Stock Market indicating a failure to meet continued listing requirements. The company is currently evaluating its options and plans to request a hearing with the Nasdaq Listing Qualifications Department.

Why It Matters

This filing signals potential delisting from a major exchange, which could significantly impact the company's liquidity, investor confidence, and ability to raise capital.

Risk Assessment

Risk Level: high — Receiving a delisting notice from a major stock exchange like Nasdaq indicates a serious issue with the company's compliance or financial standing, posing a significant risk to its future.

Key Players & Entities

• Plum Acquisition Corp. III (company) — The company filing the report.
• Nasdaq Stock Market (company) — The exchange that issued the delisting notice.
• July 30, 2024 (date) — The date the notice was received.

FAQ

Key Financial Figures

• $0.0001 — ncluded as part of the Units, par value $0.0001 per share PLMJ The Nasdaq Stock Mar
• $11.50 — ordinary share at an exercise price of $11.50 per share PLMJW The Nasdaq Stock Ma

Filing Documents

• ea0210619-8k_plumacq3.htm (8-K) — 34KB
• 0001213900-24-065201.txt ( ) — 260KB
• plmj-20240730.xsd (EX-101.SCH) — 4KB
• plmj-20240730_def.xml (EX-101.DEF) — 27KB
• plmj-20240730_lab.xml (EX-101.LAB) — 37KB
• plmj-20240730_pre.xml (EX-101.PRE) — 26KB
• ea0210619-8k_plumacq3_htm.xml (XML) — 8KB

01 Notice of Delisting or Failure to Satisfy a Continued

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On July 30, 2024, Plum Acquisition Corp. III (the "Company") received a written notice (the "Notice") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company has failed to comply with Nasdaq Listing Rule IM-5101-2, which requires that a special purpose acquisition company must complete one or more business combinations within 36 months of the effectiveness of its IPO registration statement. Pursuant to the Notice, unless the Company timely requests a hearing before The Nasdaq Hearings Panel (the "Panel"), the Company's securities will be subject to suspension and delisting from The Nasdaq Capital Market at the opening of business on August 6, 2024, and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove the Company's securities from listing and registration on Nasdaq. The Company intends to timely request a hearing before the Panel to appeal the Notice and to request sufficient time to complete an initial business combination. A hearing request will stay the suspension of trading on the Company's securities, and the Company's securities will continue to trade on The Nasdaq Capital Market until the hearing process concludes and the Panel issues a written decision. There can be no assurance that the Panel will grant the Company's request for a suspension of delisting or continued listing on The Nasdaq Capital Market.

Forward Looking Statements

Forward Looking Statements Certain statements in this Current Report on Form 8-K may be considered forward-looking statements. Forward-looking statements generally relate to future events or the future financial or operating performance of the Company. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "expect," "intend," "will," "estimate," "anticipate," "believe," "predict," "potential" or "continue," or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Such and a stay of the suspension of trading on the Company's securities. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by the Company, are inherently uncertain. Nothing in this Current Report on Form 8-K should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking update these forward-looking statements. 1

SIGNATURES

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 thereunto duly authorized. PLUM ACQUISITION CORP. III Dated: August 5, 2024 By: /s/ Kanishka Roy Name: Kanishka Roy Title: President and Chief Executive Officer 2

View Full Filing

View this 8-K filing on SEC EDGAR