Target Global Acquisition I Receives Notice of Potential Delisting from Nasdaq

On November 1, 2024, Target Global Acquisition I Corp. (NASDAQ: TGAAU) disclosed in an 8-K filing with the Securities and Exchange Commission (SEC) that it had received a written notice from the Listing Qualifications Department of The Nasdaq Stock Market. The notice highlighted that due to the company’s aggregate market value of outstanding warrants falling below $1 million, its warrants were no longer in compliance with the Nasdaq’s continued listing criteria under Listing Rule 5452(b)(C.

As per the received notice, Target Global Acquisition I has a window of 45 calendar days, until December 9, 2024, to submit a plan to regain compliance with the Nasdaq requirements. In the event that Nasdaq accepts the company’s proposed plan, Target Global Acquisition I will then have an additional 180 calendar days from the notice date to demonstrate compliance. However, if Nasdaq rejects the outlined plan, the company retains the option to appeal the decision to a hearings panel.

It’s noteworthy that the notification from the Nasdaq serves as a warning of deficiency rather than an immediate threat of delisting. Consequently, at present, there are no alterations to the trading or listing status of Target Global Acquisition I’s securities on the Nasdaq.

Should there be any developments regarding Target Global Acquisition I’s compliance plan submission or subsequent actions by the Nasdaq, MarketBeat will provide further coverage and updates as necessary.

Please note that the information contained in the aforementioned 8-K filing is accurate as of its filing date and is subject to potential modifications or updates. Investors and stakeholders are advised to monitor additional SEC filings and company disclosures for ongoing insights.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Target Global Acquisition I’s 8K filing here.

Target Global Acquisition I Company Profile

Target Global Acquisition I Corp. does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. It intends to focus on companies operating in the consumer internet, mobility, and financial technology sectors.