NorthView Acquisition Corporation Announces Receipt of Notice from Nasdaq Regarding Filing of Quarterly Report on Form 10-Q

Rhea-AI Summary

NorthView Acquisition (NVAC) has received a notice from Nasdaq for non-compliance with listing rules due to failing to file its Form 10-Q for Q3 2024. While this has no immediate impact on the company's Nasdaq listing, NVAC has 60 calendar days to submit a compliance plan. If accepted, Nasdaq may grant up to 180 days from the original due date to regain compliance. The company expects to file the required Form 10-Q within the initial 60-day period, which would resolve the compliance issue without needing a formal plan. If Nasdaq rejects the plan, NVAC can appeal to a Nasdaq Hearings Panel.

Positive

• Company expects to file Form 10-Q within 60-day compliance window
• No immediate impact on Nasdaq listing status

Negative

• Non-compliance with Nasdaq listing requirements due to delayed Q3 2024 filing
• Risk of potential delisting if compliance is not regained
• Possibility of extended regulatory proceedings if 60-day deadline is missed

New York, NY, Dec. 11, 2024 (GLOBE NEWSWIRE) -- NorthView Acquisition Corporation. (Nasdaq: NVAC) (the “Company”) announced that it has received a notice (the “Notice”) from The Nasdaq Stock Market LLC (“Nasdaq”) stating that because the Company has not yet filed its Form 10-Q for the period ended September 30, 2024, the Company is no longer in compliance with Nasdaq Listing Rule 5250(c)(1), which requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission (the “SEC”).

This notification has no immediate effect on the listing of the Company’s shares on Nasdaq. However, if the Company fails to timely regain compliance with the Nasdaq Listing Rule, the Company’s securities will be subject to delisting from Nasdaq.

Under Nasdaq rules, the Company has 60 calendar days to submit to Nasdaq a plan to regain compliance with the Nasdaq Listing Rule. If Nasdaq accepts the Company’s plan, then Nasdaq may grant the Company up to 180 days from the prescribed due date for filing the Form 10-Q to regain compliance. If Nasdaq does not accept the Company’s plan, then the Company will have the opportunity to appeal that decision to a Nasdaq Hearings Panel.

The Company is working diligently and expects to file its Form 10-Q within the 60-day period described above, which would eliminate the need for the Company to submit a formal plan to regain compliance.

This announcement is made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification.

About NorthView Acquisition Corporation

NorthView Acquisition Corporation is a blank check company incorporated in the State of Delaware 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:

Fred Knechtel
Fredknechtel@hotmail.com
631 987-8921

FAQ

Why did NVACU receive a notice from Nasdaq on December 11, 2024?

NVACU received a notice from Nasdaq for failing to file its Q3 2024 Form 10-Q on time, violating Nasdaq Listing Rule 5250(c)(1).

What is the deadline for NVACU to submit a compliance plan to Nasdaq?

NVACU has 60 calendar days to submit a plan to Nasdaq to regain compliance with the listing rules.

What happens if Nasdaq rejects NVACU's compliance plan?

If Nasdaq rejects the compliance plan, NVACU will have the opportunity to appeal the decision to a Nasdaq Hearings Panel.

How long does NVACU have to regain compliance if Nasdaq accepts their plan?

If Nasdaq accepts the plan, NVACU may receive up to 180 days from the original Form 10-Q due date to regain compliance.

Will NVACU be immediately delisted from Nasdaq due to this notice?

No, the notification has no immediate effect on NVACU's Nasdaq listing, but the company must regain compliance to avoid potential delisting.