Plum Acquisition Corp. III Faces Nasdaq Delisting Notice
Ticker: PLMWF · Form: 8-K · Filed: Aug 28, 2024 · CIK: 1845550
| Field | Detail |
|---|---|
| Company | Plum Acquisition CORP. III (PLMWF) |
| Form Type | 8-K |
| Filed Date | Aug 28, 2024 |
| Risk Level | high |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001, $11.50 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, nasdaq, compliance
Related Tickers: PLMJ
TL;DR
PLMJ got a delisting notice from Nasdaq, might get kicked off the exchange.
AI Summary
Plum Acquisition Corp. III announced on August 23, 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 could lead to the delisting of Plum Acquisition Corp. III's securities from the Nasdaq, impacting its 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
- Plum Acquisition Corp. III (company) — Company filing the 8-K
- Nasdaq Stock Market (company) — Exchange where the company is listed and received the notice
- August 23, 2024 (date) — Date of the event reported
FAQ
What specific continued listing requirement did Plum Acquisition Corp. III fail to meet?
The filing does not specify the exact continued listing requirement that Plum Acquisition Corp. III failed to meet, only that it received a notice from the Nasdaq Stock Market.
When did Plum Acquisition Corp. III receive the notice from Nasdaq?
Plum Acquisition Corp. III received the notice on August 23, 2024.
What is Plum Acquisition Corp. III's plan in response to the notice?
The company is currently evaluating the notice and plans to respond to the Nasdaq staff.
What is the ticker symbol for Plum Acquisition Corp. III?
The ticker symbol is PLMJ, as indicated by the unit and warrant descriptions.
What is the former name of Plum Acquisition Corp. III?
The former name of Plum Acquisition Corp. III was Alpha Partners Technology Merger Corp., with a name change date of February 10, 2021.
Filing Stats: 950 words · 4 min read · ~3 pages · Grade level 13.9 · Accepted 2024-08-28 16:34:35
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
- ea0212450-8k_plumacq3.htm (8-K) — 35KB
- 0001213900-24-073386.txt ( ) — 261KB
- plmj-20240823.xsd (EX-101.SCH) — 4KB
- plmj-20240823_def.xml (EX-101.DEF) — 27KB
- plmj-20240823_lab.xml (EX-101.LAB) — 37KB
- plmj-20240823_pre.xml (EX-101.PRE) — 26KB
- ea0212450-8k_plumacq3_htm.xml (XML) — 8KB
01 Notice of Delisting or Failure to
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On August 23, 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 is delinquent in filing its quarterly report on Form 10-Q for the quarterly period ended June 30, 2024. Pursuant to the Notice, this matter serves as an additional basis for delisting the Company's securities from the The Nasdaq Capital Market in light of the Company's previously reported failure to complete one or more business combinations within 36 months of the effectiveness of its IPO registration statement in accordance with Nasdaq Listing Rule IM-5101-2. A company that receives a delist determination for such a delinquency can request an appeal to the Nasdaq Hearings Panel (the "Panel"), which will stay the suspension of the Company's securities for a period of 15 days from the date of the request. The Notice points out that the Company has already scheduled a hearing before the Panel with respect to its failure to comply with Nasdaq Listing Rule IM-5101-2, and therefore may request to stay the suspension of the Company's securities pending a decision from the Panel at the scheduled hearing. The Company intends to timely request a stay of the suspension in accordance with the Notice. The 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 to stay the suspension of the Company's securities or that the Company's securities will continue to be listed on The Nasdaq Capital Market. Forward Looking Certain statements in this Current Report on Form 8-K may be considered forwar
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 Date: August 28, 2024 By: /s/ Kanishka Roy Name: Kanishka Roy Title: President and Chief Executive Officer 2