ALAC - ALAC STOCK NEWS

On April 13, 2022, Alberton Acquisition Corp. was informed by SolarMax Technology, Inc. of its intention to terminate their merger agreement, citing concerns that the merger would not be completed by the April 26, 2022 deadline. Without the merger, Alberton's securities risk suspension on Nasdaq and potential trading on the over-the-counter market. As of the notification date, the SEC had not declared effective Alberton’s registration statement for the merger. If the merger is not consummated by the deadline, Alberton may dissolve and liquidate.

On March 3, 2022, Alberton Acquisition Corp. (ALAC) received approval from Nasdaq to extend its listing until April 26, 2022, following its request for additional time to comply with listing standards. The request stems from ongoing efforts to merge with SolarMax Technology, Inc. The merger is crucial for compliance with Nasdaq IM-5101-2, requiring business combinations within 36 months of the IPO. Failure to complete the merger by the deadline could result in delisting. The company intends to finalize its proxy statement and hold a shareholder meeting soon for the merger approval.

On January 3, 2022, Alberton Acquisition Corp. received a notice from Nasdaq allowing its securities to remain listed until March 14, 2022. This extension comes after the company requested a hearing following non-compliance with listing rules due to delays in completing its business combination with SolarMax Technology, Inc. The panel's decision is contingent upon completing the merger by the extended date and demonstrating compliance with Nasdaq's listing requirements. Failure to do so may lead to suspension.

Alberton Acquisition Corporation announced on June 28, 2021, that it regained compliance with Nasdaq’s periodic filing requirement. This followed a notification from Nasdaq about non-compliance due to previous delays in filing. The company filed its Quarterly Report on Form 10-Q on June 22, 2021, which led to the reinstatement of compliance. Alberton is a Special Purpose Acquisition Company (SPAC) aimed at merging with or acquiring businesses, and it plans to combine with SolarMax Technology, Inc.

Alberton Acquisition Corporation (NASDAQ: ALAC) announced receiving a notice from NASDAQ for failing to file its Form 10-Q by the due date of May 17, 2021. This non-compliance does not immediately affect trading or listing status. The company has until August 9, 2021, to submit a plan for regaining compliance, which could extend the deadline to November 22, 2021, if accepted. The company plans to submit the compliance plan within the time frame. This announcement adheres to NASDAQ Listing Rule 5810(b) for timely notification of deficiencies.

Alberton Acquisition Corporation (NASDAQ: ALAC) announced an upcoming special shareholder meeting on April 23, 2021, to vote on a proposal to extend the deadline for completing its initial business combination to October 26, 2021. If approved, for each public share not redeemed, the company will deposit $0.06 monthly into the trust account, totaling approximately $84,808.80 if no shares are redeemed. The current redemption amount per share stands at approximately $10.97, which would increase to about $11.33 if the full extension period is utilized. Additionally, Alberton is reassessing its warrant accounting in light of recent SEC guidance.

Alberton Acquisition Corp (ALAC) has changed the record date for issuing 1,414,480 dividend warrants to holders of public ordinary shares from April 21, 2020, to April 22, 2020. This follows a significant redemption request totaling 10,073,512 shares, leaving 1,414,480 public shares outstanding. The dividend warrants, which allow the purchase of half a share, are set to be paid on April 8, 2021. The company has also filed a registration statement regarding its proposed business combination with SolarMax Technology, Inc..

On February 18, 2021, Alberton Acquisition Corporation (NASDAQ: ALAC) received notification from Nasdaq confirming compliance with the Minimum Public Holders Rule, having over 300 public holders as of January 20, 2021. However, the company is still working to comply with Nasdaq Listing Rule 5620(a) due to not holding an annual meeting within the required timeframe. The company has submitted a plan for compliance. ALAC is a SPAC focused on acquiring businesses without industry or geographical limitations.

Alberton Acquisition Corp. (NASDAQ: ALAC) announced the issuance of 1,414,480 dividend warrants to public shareholders who held shares as of April 21, 2020, and chose not to redeem them during the April 2020 extension. Each warrant allows the purchase of one-half ordinary share. Following the redemption of 10,073,512 public shares, 1,414,480 shares remain outstanding. The warrants are set to be processed and delivered to eligible shareholders on or about February 5, 2021. Alberton is pursuing a merger with SolarMax Technology, Inc., with details filed in a registration statement with the SEC.