Deep Medicine Acquisition Corp. Announces Listing Transfer To The Nasdaq Capital Market
Deep Medicine Acquisition Corp. (NASDAQ:DMAQ) (the "Company") announced today that it has received approval from the Nasdaq Stock Market ("Nasdaq") to transfer the listing of its securities from the Nasdaq Global Market to the Nasdaq Capital Market. The Company's Class A common stock and rights will continue to trade under the symbol "DMAQ" and "DMAQR," respectively and trading of its Class A common stock and rights will be unaffected by this transfer. This transfer will be effective as of the opening of business on February 17, 2023.
As previously disclosed, the Company received a letter from Nasdaq on January 22, 2023 indicating that the Company, following the stockholder redemptions at its last stockholder meeting, is not in compliance with Listing Rule 5450(b)(2), due to the Company's failure to meet the minimum 1,100,000 publicly held shares requirement for continued listing on the Nasdaq Global Market. Upon the transfer of listing of the Company's securities on the Nasdaq Capital Market on February 17, 2023, such deficiency would be resolved.