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Mountain & CO I Acquisition Corp (MCAA) is a Nasdaq-listed SPAC focused on identifying strategic business combinations. This news hub provides investors with essential updates on merger developments, regulatory filings, and corporate announcements.
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Mountain & Co. I Acquisition Corp. (MCAA) has received a delisting determination from Nasdaq due to non-compliance with several listing requirements. The company failed to file its Form 10-Q for Q1 and Q2 2024, violating the Filing Requirement. Additionally, following board member resignations, MCAA is non-compliant with Board Independence, Audit Committee Composition, and Compensation Committee Composition requirements.
Unless MCAA appeals by September 10, 2024, its securities will be suspended on September 12, 2024. The company intends to appeal and present a compliance plan to a Hearings Panel. During this process, MCAA's securities will continue trading on Nasdaq. However, there's no guarantee the appeal will succeed, and delisting could significantly impact the company's stock liquidity and price.
Mountain & Co. I Acquisition Corp. (Mountain) and FC Barcelona (Barça) announced the termination of their Business Combination Agreement dated August 11, 2023.
The decision, effective June 28, 2024, was mutually reached to allow Barça Media to focus on near-term business opportunities independently. Both parties believe that these opportunities are best addressed within a private structure, and Barça Media is projected to experience substantial growth as a result.
Mountain & Co. I Acquisition Corp. (NASDAQ: MCAA) announced its plan to explore new business combination opportunities following the termination of its agreement with FC Barcelona, dated August 11, 2023. MCAA is a publicly traded special purpose acquisition company (SPAC). Currently, the company is in discussions with potential targets for future transactions. While there is no guarantee of a finalized agreement or completed transaction, MCAA will issue further updates as necessary.
On June 11, 2024, Mountain & Co. I Acquisition Corp. (MCAA) announced receiving a notice from the Nasdaq Listing Qualifications Department for failing to file its Form 10-Q for the period ending March 31, 2024.
The company is out of compliance with Nasdaq Listing Rule 5250(c)(1). They have 60 days from June 5, 2024, to file the Form 10-Q or submit a compliance plan. If the plan is accepted, they may have until November 18, 2024, to regain compliance.
Failure to file the Form 10-Q or an accepted compliance plan may lead to a potential delisting of MCAA shares. The company will file the Form 10-Q as soon as possible.
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