NorthView Acquisition Corporation Announces Exception Granted by Nasdaq to Permit to The Company to Regain Compliance with Listing Rules
NorthView Acquisition (Nasdaq: NVACU) has received an exception from Nasdaq to regain compliance with listing rules. The company must file its Quarterly Reports on Form 10-Q for Q1 and Q2 2024 by October 14, 2024 to avoid potential delisting. This exception allows NorthView to address its failure to timely file required periodic financial reports with the SEC, as mandated by Nasdaq Listing Rule 5250(c)(1). The company is working diligently to meet the deadline and maintain its listing status. If NorthView fails to comply, it may face delisting proceedings but would have the opportunity to appeal to a Hearings Panel.
NorthView Acquisition (Nasdaq: NVACU) ha ricevuto un'eccezione da Nasdaq per riaffermare la conformità alle regole di quotazione. L'azienda deve presentare i suoi Rapporti Trimestrali sul Modulo 10-Q per il primo e il secondo trimestre del 2024 entro il 14 ottobre 2024 per evitare un'eventuale cancellazione dalla quotazione. Questa eccezione consente a NorthView di affrontare il proprio mancato rispetto della scadenza per la presentazione dei rapporti finanziari periodici richiesti alla SEC, come previsto dalla Regola di Quotazione Nasdaq 5250(c)(1). L'azienda sta lavorando diligentemente per rispettare la scadenza e mantenere il proprio stato di quotazione. Se NorthView non dovesse conformarsi, potrebbe affrontare procedimenti di delistazione, ma avrebbe l'opportunità di fare appello a un Comitato di Audizione.
NorthView Acquisition (Nasdaq: NVACU) ha recibido una excepción de Nasdaq para volver a cumplir con las reglas de cotización. La compañía debe presentar sus Informes Trimestrales en el Formulario 10-Q para el primer y segundo trimestre de 2024 antes del 14 de octubre de 2024 para evitar una posible eliminación de la lista. Esta excepción permite a NorthView abordar su incumplimiento al presentar de manera oportuna los informes financieros periódicos requeridos ante la SEC, según lo estipulado por la Regla de Cotización Nasdaq 5250(c)(1). La compañía está trabajando arduamente para cumplir con la fecha límite y mantener su estado de cotización. Si NorthView no logra cumplir, podría enfrentar procedimientos de delistación, pero tendría la oportunidad de apelar ante un Panel de Audiencias.
NorthView Acquisition (Nasdaq: NVACU)는 상장 규정을 준수하기 위해 Nasdaq의 예외를 받았습니다. 회사는 2024년 10월 14일 이전에 2024년 1분기 및 2분기 연간 보고서를 10-Q 양식으로 제출해야 하며, 이를 통해 잠재적인 상장 폐지를 피해야 합니다. 이 예외는 NorthView가 Nasdaq 상장 규칙 5250(c)(1)에 따라 SEC에 요구되는 정기 재무 보고서를 제때 제출하지 못한 문제를 해결할 수 있도록 합니다. 회사는 마감일을 준수하고 상장 상태를 유지하기 위해 열심히 노력하고 있습니다. 만약 NorthView가 준수하지 않을 경우 상장 폐지 절차에 직면할 수 있지만, 청문 부anel에 항소할 기회가 주어집니다.
NorthView Acquisition (Nasdaq: NVACU) a reçu une exception de Nasdaq pour rétablir sa conformité aux règles de cotation. La société doit soumettre ses rapports trimestriels sur le formulaire 10-Q pour le premier et le deuxième trimestre de 2024 avant le 14 octobre 2024 pour éviter une éventuelle radiation. Cette exception permet à NorthView de remédier à son manquement à la présentation dans les délais des rapports financiers périodiques requis auprès de la SEC, comme l'exige la règle de cotation Nasdaq 5250(c)(1). L'entreprise travaille avec diligence pour respecter le délai et maintenir son statut de cotation. Si NorthView ne se conforme pas, elle pourrait faire face à des procédures de radiation, mais aurait la possibilité de faire appel devant un panel d'audition.
NorthView Acquisition (Nasdaq: NVACU) hat eine Ausnahmegenehmigung von Nasdaq erhalten, um die Compliance mit den Zulassungsregeln wiederherzustellen. Das Unternehmen muss seine Quartalsberichte im Formular 10-Q für das erste und zweite Quartal 2024 bis zum 14. Oktober 2024 einreichen, um eine potenzielle Delistierung zu vermeiden. Diese Ausnahme ermöglicht es NorthView, seine verspätete Einreichung der erforderlichen regelmäßigen Finanzberichte bei der SEC, wie in der Nasdaq-Zulassungsregel 5250(c)(1) vorgeschrieben, zu beheben. Das Unternehmen arbeitet intensiv daran, die Frist einzuhalten und seinen Zulassungsstatus zu wahren. Sollte NorthView nicht in der Lage sein, die Anforderungen zu erfüllen, könnte es mit Delistierungsverfahren konfrontiert werden, hätte aber die Möglichkeit, vor einem Anhörungs-ausschuss Berufung einzulegen.
- Nasdaq granted an exception to regain compliance, providing more time to file reports
- Company has until October 14, 2024 to file Q1 and Q2 2024 reports
- Opportunity to maintain Nasdaq listing if compliance is achieved
- Failure to file timely periodic financial reports with SEC
- Risk of delisting if compliance is not achieved by the deadline
- Potential need for appeal process if deadlines are not met
Insights
This exception granted by Nasdaq to NorthView Acquisition (NVAC) is a temporary reprieve for the company. While it provides some breathing room, it's important to note that NVAC is still in a precarious position. The company's failure to file timely financial reports raises red flags about its financial health and internal controls.
Investors should be cautious as this situation indicates potential underlying issues within the company. The deadline of October 14, 2024, to file the missing reports is critical. Failure to meet this deadline could lead to delisting, which would significantly impact the stock's liquidity and value. This news, while not immediately negative, suggests increased risk for current and potential investors.
The Nasdaq's decision to grant an exception to NVAC is a standard procedure but comes with stringent conditions. The company must file its Q1 and Q2 2024 reports by October 14, 2024, or face potential delisting. This situation highlights the importance of regulatory compliance in maintaining a stock's listing status.
Investors should be aware that while NVAC has this opportunity to rectify its non-compliance, the company is walking a tightrope. Any further delays or issues could trigger a delisting process, which, even if appealed, can be detrimental to shareholder value. This scenario underscores the legal and regulatory risks associated with investing in companies that struggle with timely financial reporting.
New York, NY, Sept. 13, 2024 (GLOBE NEWSWIRE) -- NorthView Acquisition Corporation. (Nasdaq: NVAC) (the “Company”) announced that it has received a notice (the “Notice”) from The Nasdaq Stock Market LLC (“Nasdaq”) granting the Company an exception to regain compliance with Nasdaq Listing Rule 5250(c)(1), which requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission (the “SEC”). Pursuant to the terms of the exception, the Company must file its Quarterly Reports on Form 10-Q for the periods ending March 31, 2024 and June 30, 2024 on or prior to October 14, 2024. If the Company does not satisfy the terms of the exception, the Staff will provide written notification that the Company’s securities will be delisted. At such time, the Company could appeal the Staff’s determination to a Hearings Panel.
The Company is working diligently and expects to file its Quarterly Reports on Form 10-Q for the applicable periods on or prior to the October 14, 2024 deadline.
This announcement is made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification.
About NorthView Acquisition Corporation
NorthView Acquisition Corporation is a blank check company incorporated in the State of Delaware for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
Forward Looking Statements
This press release contains statements that constitute “forward-looking statements”. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and final prospectus for the offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Company Contacts:
Fred Knechtel
Fredknechtel@hotmail.com
631 987-8921
FAQ
What exception has Nasdaq granted to NorthView Acquisition (NVACU)?
By when must NorthView Acquisition (NVACU) file its Q1 and Q2 2024 reports?
What happens if NorthView Acquisition (NVACU) fails to meet the October 14, 2024 deadline?
Which Nasdaq rule requires NorthView Acquisition (NVACU) to disclose this deficiency notification?
