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Atlantic Coastal Acquisition Corp. - $ACAH STOCK NEWS

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Rhea-AI Summary
Atlantic Coastal Acquisition Corp. (ACAH) faces delisting from Nasdaq due to non-compliance with filing requirements, leading to suspension of common stock trading. The company failed to submit Form 10-Q reports for June 30, 2023, and September 30, 2023, resulting in a Staff Delisting Determination. ACAH did not meet the deadline for regaining compliance, and its failure to hold an annual shareholder meeting further violates Nasdaq's Listing Rules, prompting delisting.
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Atlantic Coastal Acquisition Corp. (NASDAQ: ACAH) has filed a Definitive Proxy Statement to extend the time for a business combination. The statement includes information on the company's eligibility to be listed on Nasdaq, corrections of figures from the Preliminary Proxy Statement, details on the liquidation of securities in the Trust Account, and a modified deadline for stockholders to redeem their Class A common stock.
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Rhea-AI Summary
Atlantic Coastal Acquisition Corp. extends deadline for business combination, subject to shareholder approval on September 8, 2023.
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Atlantic Coastal Acquisition Corp. (NASDAQ: ACAH) will redeem all outstanding shares of Class A common stock due to failure to complete an initial business combination. The per-share redemption price is expected to be approximately $10.40. The Company's securities will cease trading on Nasdaq on August 18, 2023. No redemption rights or liquidating distributions will be given for warrants. The Company expects delisting and termination of securities registration.
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Atlantic Coastal Acquisition Corp. (NASDAQ: ACAH) has extended the period to complete a business combination by one month, from July 8 to August 8, 2023. The Company received an $80,000 deposit from its sponsor, Atlantic Coastal Acquisition Management LLC, into the Trust Account. In return, the Company issued a convertible promissory note to the Sponsor.
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Atlantic Coastal Acquisition Corp. (NASDAQ: ACAH) has received an $80,000 deposit from its sponsor, Atlantic Coastal Acquisition Management LLC, to extend the period for completing a business combination by one month. In return, the company issued a convertible promissory note to the sponsor for the same amount.
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Atlantic Coastal Acquisition Corp.

Nasdaq:ACAH

ACAH Rankings

ACAH Stock Data

127.05M
2.28M
78.87%
28.69%
0.01%
Shell Companies
Financial Services
United States
New York