Landcadia Holdings IV Inc. 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 Continued Listing Rule or Standard; Transfer of Listing.
As previously disclosed in Landcadia Holdings IV, Inc.’s (the “Company”) Current Report on Form 8-K, filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 7, 2023, the Company received a notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) that the Company was not in compliance with the Market Value of Listed Securities (“MVLS”) standard for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(b)(2). In accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company had 180 calendar days, or until September 25, 2023, to regain compliance. The notice stated that to regain compliance, the Company’s MVLS must close at $35 million or more for a minimum of ten consecutive business days during the compliance period ending September 25, 2023.
On October 9, 2023, because the Company had failed to meet the MVLS standard for a minimum of ten consecutive business days during the compliance period ending September 25, 2023, the Company received another notice from the Listing Qualifications Department of Nasdaq that the Company had not regained compliance and therefore, the Company’s securities would be suspended at the opening of business on October 18, 2023, unless the Company requests an appeal of this determination.
However, the Company’s MVLS closed at above $35 million for ten consecutive business days ending on October 13, 2023, and so, the Company regained compliance with the MVLS listing standard and therefore, on the same day, the Company received a letter from Nasdaq stating that Nasdaq has determined that the Company is now in compliance with the MVLS standard for continued listing pursuant to Nsadaq Listing Rule 5550(b)(2). Therefore, the Company’s securities will not be suspended from trading 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.
| LANDCADIA HOLDINGS IV, INC. | |||
| By: | /s/ Tilman J. Fertitta | ||
| Name: | Tilman J. Fertitta | ||
| Title: | Chief Executive Officer | ||
Date: October 13, 2023