Technology and Telecommunication Acquisition in an 8-K said it was notified by the Nasdaq that it no longer complies with a listing requirement to maintain at least 400 total holders.
The SPAC has 45 calendar days to submit a plan to regain compliance. The exhange can then grant an extension of up to 180 calendar days from the notice date. If Nasdaq does not accept the plan, the SPAC can appeal the decision.
TTA in October 2022 announced a deal with Malaysia-based Super Apps Holdings Sdn Bhd at a pro forma enterprise value for the combined company of approximately $1.1 billion.
The SPAC raised $100 million in January 2022 to target telecomm and tech companies in Malaysia. Read more.
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