Maquia capital acquisition corporation plans to trade otc after delist from nasdaq

Miami, florida, aug. 02, 2024 (globe newswire) -- on may 7, 2024, maquia capital acquisition corporation (“maquia” or the “company”) received a notice from the listing qualifications department of the nasdaq stock market (“nasdaq”) that maquia was not in compliance with nasdaq listing rule im-5101-2 requiring a special purpose acquisition company must complete one or more business combinations within 36 months of the effectiveness of its ipo registration statement triggering the issuance of a staff delisting determination under rule 5810 to delist the company's securities. because the company was unable to complete a business combination by the end of the 36-month period, the company was not in compliance. in conformity with the listing rules, the company filed an appeal on may 13, 2024. a hearing on this matter was held by the nasdaq hearings panel (“panel”) on june 20, 2024.
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