Delisting of Securities of Northern Revival Acquisition Corporation; Veradigm Inc.; Neptune Wellness Solutions Inc.; Panbela Therapeutics, Inc.; Bit Brother Limited; Nocturne Acquisition Corporation; View, Inc.; Casa Systems, Inc.; Gamida Cell Ltd.; Eiger BioPharmaceuticals, Inc.; Acorda Therapeutics, Inc.; Motus GI Holdings, Inc.; ProSomnus, Inc.; and Mobile Global Esports Inc. from The Nasdaq Stock Market

Rhea-AI Summary

Nasdaq Stock Market will delist securities of Northern Revival Acquisition , Veradigm Inc., Neptune Wellness Solutions Inc., Panbela Therapeutics, Inc., and others. The delistings follow the suspension of trading for these companies on specific dates.

Insights

Financial Analyst

The announcement of multiple companies being delisted from the Nasdaq Stock Market represents a significant pivot point for these entities. Delisting often signals that a company is not in compliance with Nasdaq's listing requirements, which can include minimum share price, market capitalization and financial and corporate governance standards. This action usually reflects underlying issues such as poor financial performance, an inability to meet regulatory requirements, or a failure to provide timely and accurate information to investors.

The immediate effect for retail investors is the reduction in liquidity, as delisted securities might move to less-regulated over-the-counter (OTC) markets, where stocks are typically more volatile and trade at lower volumes. The transition to OTC can also result in a decline in share value. In the long term, these companies could face difficulty in raising new capital, which is a critical component for growth and expansion. This could potentially inhibit their ability to execute business plans and may ultimately impact their viability.

For stakeholders, these delistings could be a call to re-evaluate their investment thesis. It's important to scrutinize the reasons behind a company's delisting and assess the feasibility of its strategy to rectify the issues. While some companies may recover and regain compliance, others may continue to struggle, which could influence investor decisions regarding holding or divesting their positions.

Securities Compliance Expert

Delisting from a major exchange such as Nasdaq is a clear indicator of non-compliance with stringent regulatory standards. For a company to maintain its position on an exchange, it must adhere to specific financial and operational criteria, which are in place to protect investors and ensure a fair market. When companies falter on these fronts, it can be reflective of deeper operational or financial difficulties.

It's critical for investors to understand that while delisting does not necessarily mean a company is bankrupt or out of business, it does signal that the company is facing significant challenges. Companies that are delisted still operate, but they do so under a cloud of reduced investor confidence and scrutiny. Investors should monitor the subsequent filings and communications from these companies very closely, as they can offer valuable insights into how the business is attempting to address its compliance issues. Transparency and a clear plan for returning to compliance are key factors that may influence investor confidence.

NEW YORK, April 25, 2024 (GLOBE NEWSWIRE) -- The Nasdaq Stock Market announced today that it will delist the ordinary shares, unit, and warrants of Northern Revival Acquisition Corporation. Northern Revival Acquisition Corporation’s securities were suspended on February 15, 2024, and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the common stock of Veradigm Inc. Veradigm Inc.’s securities were suspended on February 29, 2024, and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the ordinary shares of Neptune Wellness Solutions Inc. Neptune Wellness Solutions Inc.’s securities were suspended on March 7, 2024, and have not traded on Nasdaq since that time.

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

Nasdaq also announced today that it will delist the common stock of Bit Brother Limited. Bit Brother Limited’s securities were suspended on March 7, 2024, and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the ordinary shares, rights, and units of Nocturne Acquisition Corporation. Nocturne Acquisition Corporation’s securities were suspended on April 4, 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 View, Inc. View, Inc.’s securities were suspended on April 5, 2024, and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the common stock of Casa Systems, Inc. Casa Systems, Inc.’s securities were suspended on April 5, 2024, and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the ordinary shares of Gamida Cell Ltd. Gamida Cell Ltd.’s securities were suspended on April 8, 2024, and have not traded on Nasdaq since that time.

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

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

Nasdaq also announced today that it will delist the common stock of Motus GI Holdings, Inc. Motus GI Holdings, Inc.’s securities were suspended on April 16, 2024, and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the common stock and warrant of ProSomnus, Inc. ProSomnus, Inc.’s securities were suspended on April 18, 2024, and have not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the common stock of Mobile Global Esports Inc. Mobile Global Esports Inc.’s securities were suspended on April 18, 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

Why is Nasdaq delisting the securities of Northern Revival Acquisition ?

Nasdaq is delisting the securities of Northern Revival Acquisition due to the suspension of trading on February 15, 2024.

When were the securities of Panbela Therapeutics, Inc. suspended?

The securities of Panbela Therapeutics, Inc. were suspended on March 7, 2024, leading to their delisting by Nasdaq.

What type of securities of Mobile Global Esports Inc. will be delisted?

The common stock of Mobile Global Esports Inc. will be delisted by Nasdaq following the suspension of trading on April 18, 2024.