Metal Sky Star Acquisition Corporation Announces Receipt of Additional Determination from Nasdaq Regarding Delayed Filing and Public Holders Deficiencies
Rhea-AI Summary
Metal Sky Star Acquisition (Nasdaq: MSSA) has received a notice from Nasdaq on September 5, 2024, regarding two deficiencies that could lead to delisting. The first issue is the company's failure to timely file its Q2 2024 10-Q report. The second is not meeting the requirement of having at least 400 public holders for continued listing on the Nasdaq Global Market. These matters will be considered by the Nasdaq Hearings Panel in a hearing scheduled for September 19, 2024. MSSA plans to present its views on these deficiencies and intends to resolve them before the hearing date.
Positive
- None.
Negative
- Failure to timely file Q2 2024 10-Q report
- Insufficient number of public holders (below 400) for Nasdaq Global Market listing
- Risk of delisting from Nasdaq
- Multiple compliance issues with Nasdaq listing requirements
News Market Reaction – MSSA
On the day this news was published, MSSA declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
New York, NY, Sept. 11, 2024 (GLOBE NEWSWIRE) -- Metal Sky Star Acquisition Corporation (Nasdaq: MSSA) (the “Company”) announced that it has received a notice (the “Notice”) dated September 5, 2024, from The Nasdaq Stock Market LLC (“Nasdaq”) stating that as a result of its failure to timely file its Quarterly Report on Form 10-Q (the “Form 10-Q”) for the quarterly period ended June 30, 2024 (the “Delayed Filing”) in accordance with Nasdaq Listing Rule 5250(c)(1), and failure to have at least 400 public holders for continued listing on the Nasdaq Global Market, both of these matters serve as separate and additional basis for delisting the Company’s securities (units, ordinary shares, warrants, and rights), which will be considered by the Nasdaq Hearings Panel (the “Panel”) in a hearing (the “Hearing”) scheduled on September 19, 2024. The Company will present its views with respect to the additional deficiencies to the Panel and intends to cure the additional deficiencies before September 19, 2024.
About Metal Sky Star Acquisition Corporation
Metal Sky Star Acquisition Corporation is a blank check company formed under the laws of the Cayman Islands for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
Forward Looking Statements
This press release contains statements that constitute “forward-looking statements”. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and final prospectus for the offering filed with the SEC. Copies 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 Contacts:
Wenxi He
Chairman and Chief Executive Officer
221 River Street, 9th Floor,
Hoboken, NJ 07030
Email: Olivia.he@gmail.com
Source: Metal Sky Star Acquisition Corporation
FAQ
What deficiencies has MSSA been notified about by Nasdaq?
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