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Bannix Acquisition Corp. Receives Nasdaq Notification of Non-Compliance With Listing Rules

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Bannix Acquisition Corp. (NASDAQ: BNIX) received a notification from Nasdaq regarding non-compliance with listing rules due to the delay in filing the Annual Report on Form 10-K for the year ended December 31, 2023. The company has 60 days to submit a plan to regain compliance, with a possible extension of up to 180 days. If unable to file by June 24, 2024, the company will submit a plan to regain compliance. The notification does not currently impact the listing of the company's securities on NASDAQ.

Bannix Acquisition Corp. (NASDAQ: BNIX) ha ricevuto una notifica da Nasdaq per non conformità alle regole di quotazione a causa del ritardo nella presentazione del Rapporto Annuale su Form 10-K per l'anno conclusosi il 31 dicembre 2023. L'azienda ha 60 giorni per presentare un piano per riacquistare la conformità, con la possibilità di un'estensione fino a 180 giorni. Se non sarà in grado di presentare entro il 24 giugno 2024, l'azienda presenterà un piano per riacquistare la conformità. La notifica attualmente non influisce sulla quotazione dei titoli dell'azienda su NASDAQ.
Bannix Acquisition Corp. (NASDAQ: BNIX) ha recibido una notificación de Nasdaq por no cumplir con las normas de cotización debido al retraso en la presentación del Informe Anual en el Formulario 10-K para el año finalizado el 31 de diciembre de 2023. La compañía tiene 60 días para presentar un plan para recuperar el cumplimiento, con una posible extensión de hasta 180 días. Si no logra presentar antes del 24 de junio de 2024, la compañía presentará un plan para recuperar el cumplimiento. La notificación actualmente no afecta la cotización de los valores de la compañía en NASDAQ.
Bannix Acquisition Corp. (NASDAQ: BNIX)은 연례 보고서 Form 10-K를 제출하는 데 지연되어 나스닥(Nasdaq)의 상장 규정 미준수에 대한 통지를 받았습니다. 해당 회사는 2023년 12월 31일로 끝나는 회계연도에 대해서입니다. 회사는 규정 준수를 회복하기 위한 계획을 제출하기 위해 60일의 기간을 가지고 있으며, 최대 180일까지 연장 가능합니다. 2024년 6월 24일까지 제출하지 못할 경우 회사는 규정 준수를 회복하기 위한 계획을 제출할 것입니다. 현재 이 통지는 NASDAQ에서 회사의 증권 상장에 영향을 주지 않습니다.
Bannix Acquisition Corp. (NASDAQ: BNIX) a reçu une notification de Nasdaq pour non-conformité avec les règles de cotation en raison du retard dans le dépôt du Rapport Annuel sur le formulaire 10-K pour l'année se terminant le 31 décembre 2023. La société dispose de 60 jours pour soumettre un plan visant à rétablir sa conformité, avec une possible extension jusqu'à 180 jours. Si elle n'est pas en mesure de déposer d'ici le 24 juin 2024, la société soumettra un plan pour retrouver sa conformité. La notification n'affecte actuellement pas la cotation des titres de la société sur le NASDAQ.
Bannix Acquisition Corp. (NASDAQ: BNIX) hat eine Benachrichtigung von Nasdaq erhalten wegen Nichterfüllung der Börsenlistungsregeln aufgrund der Verzögerung bei der Einreichung des Jahresberichts auf Formular 10-K für das am 31. Dezember 2023 abgeschlossene Jahr. Das Unternehmen hat 60 Tage Zeit, einen Plan zur Wiederherstellung der Compliance vorzulegen, mit der Möglichkeit einer Verlängerung um bis zu 180 Tage. Falls die Einreichung bis zum 24. Juni 2024 nicht möglich ist, wird das Unternehmen einen Plan zur Wiederherstellung der Compliance vorlegen. Die Benachrichtigung wirkt sich derzeit nicht auf die Notierung der Wertpapiere des Unternehmens an der NASDAQ aus.
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WEST HOLLYWOOD, Calif., April 26, 2024 (GLOBE NEWSWIRE) -- Bannix Acquisition Corp. (NASDAQ: BNIX) (“Bannix” or the “Company”), a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, announced that on April 25, 2024, it received a letter from the Listing Qualifications Department of the Nasdaq Stock Market (“NASDAQ”) advising the Company that the Company did not comply with NASDAQ’s Listing Rule 5250(c)(1) for continued listing because NASDAQ had not received the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 (the “Form 10-K”).

NASDAQ informed the Company that it has 60 days from the date of the letter to submit a plan to regain compliance with respect to this delinquent report. If NASDAQ approves the Company’s plan, it has the discretion to grant the Company an extension of up to 180 calendar days from the due date of the Form 10-K, or until February 12, 2024, to regain compliance.

The Company is working diligently to complete the Form 10-K. If the Company is unable to file the Form 10-K by June 24, 2024, it intends to file a plan to regain compliance with NASDAQ. This notification has no immediate effect on the listing of the Company’s securities on NASDAQ. There can be no assurance, however, that the Company will be able to file Form 10-K by June 24, 2024, regain compliance with the listing requirements discussed above or otherwise satisfy the other NASDAQ listing criteria.

About Bannix Acquisition Corp.

Bannix Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.

Forward Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to, among others, statements about the Company’s plans to file its Form 10-Q and amend prior SEC filings, including the restatement of certain consolidated financial statements included therein. We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “is working,” “may,” “should,” “could,” “would,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “continue,” or the negative of such terms or other similar expressions. Factors that might cause or contribute to such a discrepancy include, but are not limited to, those described in our SEC filings. Copies of these documents are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Company Contact:
Douglas Davis
Chief Executive Officer
(302) 305-479


FAQ

What notification did Bannix Acquisition Corp. receive from Nasdaq?

Bannix Acquisition Corp. received a notification of non-compliance with listing rules from Nasdaq.

What is the deadline for Bannix Acquisition Corp. to submit a plan for compliance?

Bannix Acquisition Corp. has 60 days to submit a plan to regain compliance.

What happens if Bannix Acquisition Corp. is unable to file the Form 10-K by June 24, 2024?

If Bannix Acquisition Corp. is unable to file the Form 10-K by June 24, 2024, it intends to submit a plan to regain compliance with Nasdaq.

Bannix Acquisition Corp.

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