Pantages Capital warned on Nasdaq holder count
PGAC has fallen below Nasdaq’s 400-holder requirement and must submit a compliance plan by October 19, 2026 to avoid potential delisting.
Rhea-AI Filing Summary
Pantages Capital Acquisition Corporation (PGAC) reported that on September 2, 2026 it received a deficiency notice from Nasdaq stating it is not in compliance with Nasdaq Listing Rule 5450(a)(2), which requires at least 400 Total Holders for continued listing on the Nasdaq Global Market.
The notice does not result in immediate delisting and the company’s securities continue to trade on the Nasdaq Global Market. Pantages plans to submit a compliance plan to Nasdaq by October 19, 2026, after which Nasdaq may grant up to 180 calendar days from the notice date to evidence regaining compliance or the company may appeal any adverse decision.
Positive
- None.
Negative
- Nasdaq has notified the company that it is not in compliance with the Minimum Total Holders Requirement of 400 holders, creating a risk of eventual delisting if compliance is not restored.
Insights
Analyzing...
8-K Event Classification
Item 3.01 — Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
1 item
Item 3.01
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Securities
The company received a delisting notice, failed to satisfy a continued-listing rule or standard, or transferred its listing.
Key Figures
Minimum Total Holders Requirement: 400 holders
Compliance plan deadline: October 19, 2026
Maximum extension period: 180 calendar days
3 metrics
Minimum Total Holders Requirement
400 holders
Required by Nasdaq Listing Rule 5450(a)(2) for continued listing on the Nasdaq Global Market
Compliance plan deadline
October 19, 2026
Deadline for PGAC to submit a plan to regain compliance with the Minimum Total Holders Requirement
Maximum extension period
180 calendar days
Possible additional time from the date of the notice for PGAC to evidence compliance if Nasdaq accepts its plan
Key Terms
Nasdaq Listing Rule 5450(a)(2), Nasdaq Global Market, Minimum Total Holders Requirement, Emerging growth company, +1 more
5 terms
Nasdaq Listing Rule 5450(a)(2) regulatory
"indicating that the Company was not in compliance with Nasdaq Listing Rule 5450(a)(2)"
Nasdaq Global Market market
"for continued listing on the Nasdaq Global Market (the “Minimum Total Holders Requirement”)"
The Nasdaq Global Market is a section of the stock exchange where larger, well-established companies are listed and publicly traded. It functions like a marketplace where investors can buy and sell shares of these companies, providing them with access to capital and opportunities for growth. Its role is important because it helps investors identify and invest in reputable companies with strong financial backgrounds.
Minimum Total Holders Requirement regulatory
"requires the Company to have at least 400 Total Holders for continued listing"
Emerging growth company regulatory
"Emerging growth company Item 3.01 Notice of Delisting"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
forward-looking statements regulatory
"The Company makes forward-looking statements in this report."
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
FAQ
What Nasdaq rule did PGAC (Pantages Capital Acquisition Corporation) fail to meet?
PGAC reported it is not in compliance with Nasdaq Listing Rule 5450(a)(2), which requires the company to have at least 400 Total Holders for continued listing on the Nasdaq Global Market.
Is PGAC being immediately delisted from Nasdaq after this notice?
No. The company states the notice is a notification of deficiency only, with no immediate effect on the listing or trading of its securities on the Nasdaq Global Market.
What deadline did Nasdaq give PGAC to submit a compliance plan?
Nasdaq’s notice requires PGAC to submit a plan to regain compliance with the Minimum Total Holders Requirement no later than October 19, 2026.
How much extra time might PGAC receive to regain compliance with Nasdaq rules?
If Nasdaq accepts PGAC’s plan, Nasdaq may grant an extension of up to 180 calendar days from the date of the notice for the company to evidence compliance with the Minimum Total Holders Requirement.
What options does PGAC have if Nasdaq rejects its compliance plan?
If Nasdaq does not accept the company’s plan, PGAC states it will have the opportunity to appeal the decision in front of a Hearings Panel.
AI-generated analysis. How Rhea-AI works. Not financial advice.
