ClimateRock Faces Potential Nasdaq Delisting Due to Public Holders Requirement Non-Compliance

ClimateRock (NASDAQ: CLRC) has recently found itself in a precarious position following a notice from the Nasdaq Stock Market. The company received a deficiency letter earlier this year, indicating that its public holders of Class A ordinary shares fell below the 400 Public Holders minimum requirement for continued inclusion on The Nasdaq Global Market, as outlined by Nasdaq Listing Rule 5450(a)(2).

While the initial notifications did not have an immediate impact on ClimateRock’s Nasdaq listing, the rules allowed the company a grace period to submit a plan to regain compliance. On May 28, 2024, ClimateRock submitted a plan to Nasdaq for regaining compliance, which was granted an extension until October 7, 2024, to meet the Public Holders Requirement.

However, on October 8, 2024, the company received a notice from Nasdaq stating that as it had not yet regained compliance with the Public Holders Requirement, it would face potential delisting unless it requested a hearing before the Nasdaq Hearing Panel by October 15, 2024. Acting promptly, ClimateRock appealed the notice by submitting a request to the Panel on the specified date.

The outcome of this appeal to the Nasdaq Hearing Panel will determine ClimateRock’s future listing status on the exchange. The company is taking steps to address the non-compliance issue and work towards maintaining its listing on The Nasdaq Global Market.

Investors and stakeholders will be keenly observing the developments as ClimateRock navigates this critical juncture in its listing status on the Nasdaq stock exchange.

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

ClimateRock Company Profile

ClimateRock focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. It intends to pursue an initial business combination within climate change, environment, renewable energy and emerging, and clean technologies.