Medicus Sciences 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. |
On January 11, 2023, Medicus Sciences Acquisition Corp. (“Medicus” or the “Company”), received a notice (the “Notice”) of failure to satisfy a continued listing standard from Nasdaq under Listing Rules 5620 (a) and 5810(c)(2)(G). The Notice indicated that the Company failed to hold an annual meeting of shareholders within the required twelve-month period for the fiscal year ended December 31, 2022. Under the Listing Rules, the Company has 45 calendar days to submit a plan to regain compliance. If that plan is accepted, Medicus may be granted up to 180 calendar days from the fiscal year end, or until June 29, 2023, to regain compliance. Failure to regain compliance with standards for continued listing would result in the ultimate de-listing of the Company’s Class A ordinary shares, ticker symbol “MSAC”, from Nasdaq. Because it is unlikely Medicus will be able to complete a business combination before its completion deadline of February 18, 2023, the Company intends to liquidate promptly after the deadline and therefore will not submit a plan of compliance.
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.
| MEDICUS SCIENCES ACQUISITION CORP. | ||
| Dated: January 18, 2023 | By: | /s/ Michael Castor |
| Name: | Michael Castor | |
| Title: | Chief Executive Officer | |