Delisting of Securities of Alberton Acquisition Corporation; Zosano Pharma Corporation; Electric Last Mile Solutions, Inc.; 4D pharma plc; and Enjoy Technology, Inc. from The Nasdaq Stock Market

Rhea-AI Summary

The Nasdaq Stock Market announced the delisting of several companies due to trading suspensions. Alberton Acquisition Corporation, Zosano Pharma Corporation, Electric Last Mile Solutions, Inc., 4D pharma plc, and Enjoy Technology, Inc. were all suspended from trading on various dates in 2022 and will be formally delisted. Nasdaq will file a Form 25 with the SEC to finalize these delistings, effective ten days post-filing. Investors are advised to check public filings for additional information regarding the delistings and potential trading venues.

Positive

• None.

Negative

• Multiple companies, including Alberton Acquisition Corporation and Zosano Pharma Corporation, are being delisted, indicating potential financial instability.
• Securities of the affected companies have not traded since their respective suspension dates, suggesting lack of market confidence.

NEW YORK, July 18, 2022 (GLOBE NEWSWIRE) -- The Nasdaq Stock Market announced today that it will delist the ordinary shares, warrant, unit, and rights of Alberton Acquisition Corporation. Alberton Acquisition Corporation’s securities were suspended on April 26, 2022 and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the common stock of Zosano Pharma Corporation. Zosano Pharma Corporation’s common stock was suspended on June 13, 2022 and has not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the Class A Common Stock and Warrant of Electric Last Mile Solutions, Inc. Electric Last Mile Solutions, Inc.’s securities were suspended on June 23, 2022 and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the American depositary shares and warrant of 4D pharma plc. 4D pharma plc’s securities were suspended on July 7, 2022 and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the common stock and warrant of Enjoy Technology, Inc. Enjoy Technology, Inc.’s securities were suspended on July 11, 2022 and have not traded on Nasdaq since that time.

Nasdaq will file a Form 25 with the Securities and Exchange Commission to complete the delistings. The delistings become effective ten days after the Form 25 is filed. For news and additional information about the companies, including the basis for the delisting and whether the companies’ securities are trading on another venue, please review the companies’ public filings or contact the company directly.

For more information about The Nasdaq Stock Market, visit the Nasdaq Web site at http://www.nasdaq.com. Nasdaq’s rules governing the delisting of securities can be found in the Nasdaq Rule 5800 Series, available on the Nasdaq Web site: https://listingcenter.nasdaq.com/rulebook/nasdaq/rules/nasdaq-5800-series.

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FAQ

What companies are being delisted from Nasdaq?

Alberton Acquisition Corporation, Zosano Pharma Corporation, Electric Last Mile Solutions, Inc., 4D pharma plc, and Enjoy Technology, Inc. are being delisted.

When will the delistings of these companies be effective?

The delistings will become effective ten days after Nasdaq files a Form 25 with the SEC.

What led to the suspension and delisting of these companies?

The companies' securities were suspended due to trading issues and have not traded on Nasdaq since their suspension dates.

Where can I find more information about the delisted companies?

Investors can review public filings of the delisted companies or contact them directly for more details.

What does Nasdaq's delisting process involve?

Nasdaq files a Form 25 with the SEC to initiate the delisting process, following specific rules under the Nasdaq Rule 5800 Series.