Patria Latin American Opportunity (SO:FTCE11B) Acquisition Corp. (NASDAQ:PLAO) has been notified of a pending delisting of its warrants and units from The Nasdaq Global Market, starting November 18, 2024. The notice, dated November 7, 2024, indicates non-compliance with Nasdaq's continued listing requirements.
Specifically, the company's warrants have not maintained the minimum aggregate market value of $1 million as required under Nasdaq Listing Rule 5452(b)(C). Additionally, the company's units have failed to meet Nasdaq Listing Rule 5225(a)(1)(A), which stipulates that all components of a listed unit must comply with listing standards.
As a result of these violations, Nasdaq will proceed with the suspension and delisting process. A Form 25-NSE will be filed with the Securities and Exchange Commission (SEC), officially removing Patria Latin American's warrants and units from listing and registration on The Nasdaq Stock Market.
The company, previously known as Patria Latin American Growth Opportunity Acquisition Corp. and prior to that, Patria Acquisition Corp., has its principal executive offices located in Grand Cayman, Cayman Islands. Patria Latin American Opportunity Acquisition Corp. operates under the "Blank Checks" industry, as per the standard industrial classification.
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