Achari Ventures Holdings Corp. I Announces Receipt of NASDAQ Continued Listing Standard Notice

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Achari Ventures Holdings Corp. receives deficiency letter from Nasdaq for delay in filing Form 10-Q

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• Achari Ventures Holdings Corp. received a deficiency letter from Nasdaq for not complying with Nasdaq Listing Rule 5250(c)(1) due to a delay in filing its Form 10-Q for the period ending March 31, 2023.

NEW YORK, May 31, 2023 /PRNewswire/ - Achari Ventures Holdings Corp. I (NASDAQ: AVHI) (the "Company" or "Achari") today announced that as it had previously disclosed, the Company received a deficiency letter on May 23, 2023 from the Listing Qualifications Department of The NASDAQ Stock Market LLC ("Nasdaq"), stating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1), as a result of the Company's delay in filing its Form 10-Q for the period ending March 31, 2023 (the "Form 10-Q") with the Securities and Exchange Commission (the "SEC").

On May 26, 2023, the Company filed its Form 10-Q for the period ended March 31, 2023 with the SEC.

About Achari Ventures Holdings Corp. I

Achari is a blank check 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. It has not selected any specific business combination target at this time and has not, nor has anyone on its behalf, entered into any agreements, directly or indirectly, with any business combination target.

Forward Looking Statements

This press release contains "forward-looking statements" within the meaning of the federal securities laws. All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," or similar expressions, involve known and unknown risks and uncertainties, and include the statement regarding the completion of the business combination within a certain period of time, if ever. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of risks and uncertainties, such as risks related to: our ability to obtain necessary regulatory approvals and other risks and uncertainties disclosed under the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our registration statement filed with the SEC in connection with our initial public offering and similar disclosures in our subsequent reports filed with the SEC, which are available on the SEC website at http://www.sec.gov/. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

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SOURCE Achari Ventures Holdings Corp. I

FAQ

What is the deficiency letter received by Achari Ventures Holdings Corp.?

Achari Ventures Holdings Corp. received a deficiency letter from Nasdaq for not complying with Nasdaq Listing Rule 5250(c)(1) due to a delay in filing its Form 10-Q for the period ending March 31, 2023.

When did Achari Ventures Holdings Corp. file its Form 10-Q?

Achari Ventures Holdings Corp. filed its Form 10-Q for the period ended March 31, 2023 on May 26, 2023.