Relativity Acquisition Corp. Announces Receipt of Additional Nasdaq Delisting Determination

Rhea-AI Summary

Relativity Acquisition Corp. (Nasdaq: RACY) received a delisting determination from Nasdaq due to non-compliance with filing periodic financial reports, specifically the Form 10-K for 2023.

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• The Company received a delisting determination from Nasdaq due to non-compliance with filing periodic financial reports, which may impact investor confidence and the stock's liquidity.

NEW YORK, May 6, 2024 /PRNewswire/ -- Relativity Acquisition Corp. (Nasdaq: RACY) (the "Company") today announced that, on April 30, 2024, the Company received a determination letter (the "Letter") from the Nasdaq Listing Qualifications staff (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") indicating that Staff had determined an additional basis to delist the Company's securities from The Nasdaq Stock Market. The Staff's determination was based upon the Company's non-compliance with the requirements set forth in Listing Rule 5250(c)(1), requiring the timely filing of all required periodic financial reports with the Securities and Exchange Commission. The Staff's determination was based on the Company's delinquency in filing its Form 10-K for the period ended December 31, 2023.

About Relativity Acquisition Corp.

Relativity Acquisition Corp. is a blank check company sponsored by Relativity Acquisition Sponsor LLC, a Delaware limited liability company, formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company intends to focus on businesses in the legalized cannabis industry, including related industries such as consumer packaged goods, health & wellness, technology, pharmaceuticals, manufacturing, distribution, logistics and brand management.

Forward-Looking Statements
This press release may include, and oral statements made from time to time by representatives of the Company may include, "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding possible business combinations and the financing thereof, and related matters, as well as all other statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company's filings with the Securities and Exchange Commission ("SEC"). All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. 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 prospectus for the Company's initial public offering and the Company's annual or quarterly reports or proxy statement filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

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SOURCE Relativity Acquisition Corp.

FAQ

Why did Relativity Acquisition Corp. receive a delisting determination from Nasdaq?

Relativity Acquisition Corp. received a delisting determination from Nasdaq due to non-compliance with filing its Form 10-K for the period ended December 31, 2023.

What is the impact of the delisting determination on Relativity Acquisition Corp.'s stock?

The delisting determination may negatively impact investor confidence and the stock's liquidity due to potential delisting from The Nasdaq Stock Market.

When did Relativity Acquisition Corp. receive the determination letter from Nasdaq?

Relativity Acquisition Corp. received the determination letter from Nasdaq on April 30, 2024.

What is the stock symbol of Relativity Acquisition Corp.?

The stock symbol of Relativity Acquisition Corp. is RACY.