Pantages Capital flagged by Nasdaq over $50M value
Rhea-AI Filing Summary
Pantages Capital Acquisition Corporation (PGAC) reported that Nasdaq notified it on August 21, 2026 that its market value of listed securities (MVLS) has been below the $50 million minimum required for the Nasdaq Global Market for the last 30 consecutive business days, triggering a listing deficiency.
The company has 180 calendar days, until February 17, 2027, to regain compliance by having MVLS at or above $50 million for at least 10 consecutive business days. Its securities remain listed during this period, and the company is monitoring MVLS and evaluating options but cannot assure successful compliance.
Positive
- None.
Negative
- Nasdaq has notified the company that its MVLS has been below $50 million for 30 consecutive business days, creating a risk that PGAC shares could ultimately be delisted from the Nasdaq Global Market if compliance is not regained by February 17, 2027.
Filing Explained
If PGAC has not restored the $50 million MVLS requirement by
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 MVLS requirement: $50 million
Consecutive days below MVLS requirement: 30 business days
Compliance Period length: 180 calendar days
+2 more
5 metrics
Minimum MVLS requirement
$50 million
Nasdaq Global Market continued listing standard under Listing Rule 5450(b)(2)(A)
Consecutive days below MVLS requirement
30 business days
Period during which PGAC’s MVLS was below $50 million before the notice
Compliance Period length
180 calendar days
Time allowed to regain MVLS compliance ending February 17, 2027
Days MVLS must meet requirement
10 consecutive business days
Duration MVLS must be at least $50 million to regain compliance
Compliance Period end date
February 17, 2027
Deadline for PGAC to regain compliance with the MVLS Rule
Key Terms
market value of listed securities, Nasdaq Global Market, Nasdaq Listing Rule 5450(b)(2)(A), continued listing, +1 more
5 terms
market value of listed securities financial
"the Company’s market value of listed securities (“MVLS”) was below the $50 million"
Market value of listed securities is the market value of the shares a company has listed on an exchange, calculated as the closing bid price multiplied by the number of listed shares. Exchanges use it as a continued-listing standard, so a company that stays under the required minimum receives a deficiency notice and is given a set period to recover before facing delisting.
Nasdaq Global Market market
"$50 million minimum MVLS requirement for continued listing on the Nasdaq Global Market"
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.
Nasdaq Listing Rule 5450(b)(2)(A) regulatory
"minimum MVLS requirement for continued listing on the Nasdaq Global Market under Nasdaq Listing Rule 5450(b)(2)(A)"
continued listing market
"$50 million minimum MVLS requirement for continued listing on the Nasdaq Global Market"
When a stock receives a "continued listing," it means the exchange has decided the company’s shares will remain tradable on that market after a review or challenge, often because the company met certain requirements or corrective steps. For investors this matters because continued listing preserves liquidity and access to buy or sell the stock—think of it as a store passing an inspection so customers can keep shopping rather than being forced to close.
Emerging growth company regulatory
"Emerging growth company"
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.
FAQ
What Nasdaq compliance issue did PGAC disclose?
PGAC disclosed that Nasdaq notified the company on August 21, 2026 that its market value of listed securities (MVLS) has been below the $50 million minimum required for the Nasdaq Global Market for 30 consecutive business days, resulting in a listing deficiency notice.
What is the deadline for PGAC to regain Nasdaq MVLS compliance?
PGAC has 180 calendar days, until February 17, 2027, to regain compliance. To do so, its MVLS must be at least $50 million for a minimum of 10 consecutive business days during this period under Nasdaq Listing Rule 5450(b)(2)(A).
What happens if PGAC does not regain MVLS compliance by February 17, 2027?
If PGAC does not regain compliance by February 17, 2027, Nasdaq may notify the company that its securities are subject to delisting. PGAC would then be permitted to appeal the delisting determination to a Nasdaq Hearings Panel under applicable Nasdaq rules.
Is PGAC currently being delisted from Nasdaq?
No. The notice is a deficiency notification only and is not an imminent delisting action. The company’s securities continue to trade on the Nasdaq Global Market while PGAC has the opportunity to regain compliance with the $50 million MVLS requirement.
Which PGAC securities are listed on Nasdaq?
PGAC has Units (PGACU), Class A ordinary shares (PGAC), and Rights (PGACR) listed on the Nasdaq Stock Market LLC. The deficiency notice relates to the company’s overall market value of listed securities for continued Nasdaq Global Market listing.
What actions is PGAC taking in response to the Nasdaq notice?
PGAC states that it is monitoring its MVLS and evaluating options to regain compliance with the Nasdaq MVLS requirement. The company cautions that there can be no assurance it will be able to regain or maintain compliance.
AI-generated analysis. How Rhea-AI works. Not financial advice.
