Cartica Acquisition Corp filed SEC Form 8-K: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
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Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On November 27, 2024, Cartica Acquisition Corp (the “Company”) received a written notice (the “Notice”) from The Nasdaq Stock Market (“Nasdaq”) indicating that the Company no longer complies with Nasdaq Listing Rule 5605 (the “Audit Committee Listing Rule”), which requires, among other things, companies with securities listed on Nasdaq to have an audit committee consisting of at least three members who are independent directors. The Company fell out of compliance with the Audit Committee Listing Rule as a result of the vacancy caused by the resignation of Kyle Ingvald Parent from the board of directors and the audit committee of the Company effective November 15, 2024 as previously disclosed on the Company’s Current Report on Form 8-K filed November 21, 2024.
The Company has until (i) the earlier of the Company’s next annual shareholders’ meeting or November 15, 2025 to regain compliance, or (ii) if the Company’s next annual shareholders’ meeting is held before May 14, 2025, then the Company must submit evidence of compliance no later than May 14, 2025.
The Notice has no immediate effect on the listing or trading of the Company’s securities on the Nasdaq Capital Market.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Cartica Acquisition Corp | ||
| Date: December 4, 2024 | By: | /s/ Suresh Guduru |
| Name: | Suresh Guduru | |
| Title: | Chairman and Chief Executive Officer | |