Delisting of Securities of Liberty Resources Acquisition Corp.; Achari Ventures Holdings Corp. I; PetVivo Holdings, Inc.; Galera Therapeutics, Inc.; Clean Energy Special Situations Corp.; Capitalworks Emerging Markets Acquisition Corp.; AERWINS Technologies Inc.; Biolase, Inc.; Global Gas Corporation; Corner Growth Acquisition Corp.; Lucy Scientific Discovery Inc.; Chicken Soup for the Soul Entertainment, Inc.; Ideanomics, Inc.; NexImmune, Inc.; Shapeways Holdings, Inc.; QIWI plc;

Rhea-AI Summary

The Nasdaq Stock Market (NDAQ) has announced the delisting of securities from 22 companies, including common stocks, units, warrants, and other financial instruments. This decision affects a diverse range of firms such as Liberty Resources Acquisition Corp., PetVivo Holdings, Galera Therapeutics, AERWINS Technologies, Chicken Soup for the Soul Entertainment, and VBI Vaccines. The delisting process began with suspensions of trading for these securities between March 27 and August 8, 2024, and none have traded on Nasdaq since their respective suspension dates. This action is part of Nasdaq's regulatory function to maintain market integrity and protect investors.

Insights

Financial Analyst

This mass delisting event is a significant development in the financial markets. The removal of 22 companies from Nasdaq, spanning various sectors, signals widespread financial distress or non-compliance with listing requirements. This could indicate broader economic challenges or a tightening of regulatory standards. For investors, this emphasizes the importance of due diligence and risk assessment, particularly for smaller or less established companies. The delisting may lead to reduced liquidity and increased volatility for these stocks, potentially affecting portfolio values and investment strategies. It's important for investors to review their holdings and consider the implications for companies in similar situations.

Market Research Analyst

The scale of this delisting event is unusual and concerning. It affects a diverse range of companies, including those in emerging technologies, pharmaceuticals and consumer services. This could reflect sector-wide challenges or a shift in market dynamics. The inclusion of several SPACs (Special Purpose Acquisition Companies) in this list may indicate a cooling of the SPAC market, which was previously hot. For retail investors, this underscores the risks associated with speculative investments and the importance of diversification. It may also signal a market correction or a more stringent approach by Nasdaq towards maintaining listing standards, potentially impacting future IPOs and investor confidence.

Legal Expert

This mass delisting raises regulatory and compliance concerns. While specific reasons aren't provided, delistings often occur due to failure to meet financial requirements, corporate governance issues, or regulatory non-compliance. The breadth of companies affected suggests a stricter enforcement of listing rules by Nasdaq. This could lead to increased scrutiny of listed companies and potentially more delistings in the future. For investors, it highlights the importance of understanding a company's regulatory standing and compliance history. There may be legal implications for the delisted companies, including potential shareholder lawsuits or regulatory investigations. This event may also prompt other exchanges to review their listing standards and enforcement practices.

ASLAN Pharmaceuticals Limited; Conn's, Inc.; 2U, Inc.; International Media Acquisition Corp.; Presto Automation, Inc.; and VBI Vaccines, Inc.; from The Nasdaq Stock Market

NEW YORK, Sept. 04, 2024 (GLOBE NEWSWIRE) -- The Nasdaq Stock Market announced today that it will delist the common stock, units, and warrants of Liberty Resources Acquisition Corp. Liberty Resources Acquisition Corp.’s securities were suspended on March 27, 2024, and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the common stock, units, and warrants of Achari Ventures Holdings Corp. I. Achari Ventures Holdings Corp. I’s securities were suspended on April 9, 2024, and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the common stock and warrants of PetVivo Holdings, Inc. PetVivo Holdings, Inc.’s securities were suspended on April 9, 2024, and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the common stock of Galera Therapeutics, Inc. Galera Therapeutics, Inc.’s securities were suspended on June 4, 2024, and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the common stock, units, and warrants of Clean Energy Special Situations Corp. Clean Energy Special Situations Corp.’s securities were suspended on June 11, 2024, and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the ordinary shares, units, and warrants of Capitalworks Emerging Markets Acquisition Corp. Capitalworks Emerging Markets Acquisition Corp.’s securities were suspended on June 12, 2024, and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the common stock and warrants of AERWINS Technologies Inc. AERWINS Technologies Inc.’s securities were suspended on June 20, 2024, and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the common stock of Biolase, Inc. Biolase, Inc.’s securities were suspended on June 20, 2024, and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the Class A common stock and warrants of Global Gas Corporation. Global Gas Corporation’s securities were suspended on June 25, 2024, and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the Class A ordinary shares, warrants, and units of Corner Growth Acquisition Corp. Corner Growth Acquisition Corp.’s securities were suspended on June 25, 2024, and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the common stock of Lucy Scientific Discovery Inc. Lucy Scientific Discovery Inc.’s securities were suspended on July 1, 2024, and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the Class A common stock, preferred stock, warrants, and notes of Chicken Soup for the Soul Entertainment, Inc. Chicken Soup for the Soul Entertainment, Inc.’s securities were suspended on July 3, 2024, and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the common stock of Ideanomics, Inc. Ideanomics, Inc.’s securities were suspended on July 11, 2024, and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the common stock of NexImmune, Inc. NexImmune, Inc.’s securities were suspended on July 12, 2024, and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the common stock and warrants of Shapeways Holdings, Inc. Shapeways Holdings, Inc.’s securities were suspended on July 17, 2024, and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the American Depositary Shares of QIWI plc. QIWI plc’s securities were suspended on July 9, 2024, and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the American Depositary Shares of ASLAN Pharmaceuticals Limited. ASLAN Pharmaceuticals Limited’s securities were suspended on July 19, 2024, and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the common stock of Conn's, Inc. Conn's, Inc.’s securities were suspended on August 6, 2024, and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the common stock of 2U, Inc. 2U, Inc.’s securities were suspended on August 7, 2024, and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the Class A common stock, warrants, rights, and units of International Media Acquisition Corp. International Media Acquisition Corp.’s securities were suspended on August 8, 2024, and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the common stock and warrants of Presto Automation, Inc. Presto Automation, Inc.’s securities were suspended on August 8, 2024, and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the ordinary shares of VBI Vaccines, Inc. VBI Vaccines, Inc.’s securities were suspended on August 8, 2024, and have not traded on Nasdaq since that time.

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.

FAQ

How many companies are being delisted from Nasdaq (NDAQ) according to the September 4, 2024 announcement?

According to the announcement, 22 companies are being delisted from the Nasdaq Stock Market.

What types of securities are being delisted from Nasdaq (NDAQ) in this announcement?

The delisting includes various securities such as common stocks, units, warrants, American Depositary Shares, preferred stocks, and notes from the affected companies.

When did the trading suspensions for these delisted securities on Nasdaq (NDAQ) occur?

The trading suspensions for the delisted securities occurred between March 27, 2024, and August 8, 2024, with different dates for each company.

Where can investors find Nasdaq's (NDAQ) rules governing the delisting of securities?

Nasdaq's rules governing the delisting of securities can be found in the Nasdaq Rule 5800 Series, available on the Nasdaq website at https://listingcenter.nasdaq.com/rulebook/nasdaq/rules/nasdaq-5800-series.