StockNews.AI
FORL
StockNews.AI
118 days

FOUR LEAF ACQUISITION CORPORATION ANNOUNCES RECEIPT OF NASDAQ DELISTING DETERMINATIONS

1. FORL faces potential delisting due to late Form 10-K filing. 2. Failure to pay fees also contributes to potential delisting. 3. The company plans to appeal Nasdaq's delisting determination. 4. FORL is a blank check company looking for IoT targets. 5. Management includes CEO Bala Padmakumar and CFO Coco Kou.

M&A
0%Current Return
VS
+2.1%S&P 500
$11.3204/23 11:33 PM EDTEvent Start
$11.3204/25 05:50 AM EDTLatest Updated
7m saved
Insight
Article

FAQ

Why Very Bearish?

Delisting typically results in a significant loss of investor confidence. Historical cases show that delisted companies often experience sharp declines in stock price.

How important is it?

The news directly impacts FORL's listing status, making it crucial for stakeholders. Delisting could drastically alter investor perception and market participation.

Why Short Term?

Delisting decisions can lead to immediate sell-offs by investors. The company's appeal process will be monitored closely over the coming weeks.

Related Companies

SPACNASDAQ: TSPNASDAQ: IPOB
, /PRNewswire/ -- Four Leaf Acquisition Corporation (Nasdaq: FORL), a publicly-listed special purpose acquisition company (the "Company"), today announced that it received a notice (the "Notice") from the staff of the Nasdaq Listing Qualifications department of The Nasdaq Stock Market LLC ("Nasdaq") on April 17, 2025 stating that the Company's failure to file its Annual Report on Form 10-K for the year ended December 31, 2024 (the "Form 10-K"), serves a basis for delisting the Company's securities from Nasdaq. Accordingly, unless the Company timely requests an appeal of this determination, the Company's securities will be delisted from The Nasdaq Capital Market, trading of the Company's Common Stock will be suspended and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove the Company's securities from listing and registration on The Nasdaq Stock Market. On April 21, 2025, the Company received another notice from Nasdaq, which notified the Company that its failure to pay certain fees required by Listing Rule 5250(f) serves an additional basis for delisting the Company's securities from Nasdaq unless the Company appeals this determination. The Company fully intends to timely appeal such determinations pursuant to the procedures set forth in the Nasdaq Listing Rule 5800 Series to stay the suspension of the Company's securities and the filing of the Form 25-NSE pending the Panel's decision. About Four Leaf Acquisition Corporation Four Leaf Acquisition Corporation is a blank check company incorporated in Delaware for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. Four Leaf Acquisition Corporation believes that there are many target companies that could become attractive public companies and is seeking a target in the Internet of Things "IoT" market. Four Leaf Acquisition Corporation is led by Bala Padmakumar, Chairman and Interim Chief Executive Officer, Coco Kou, Chief Financial Officer, and Robert de Neve, Chief Strategy Officer. Forward-Looking Statements This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, are forward-looking statements. When used in this press release, the words "aims", "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Four Leaf Acquisition Corporation (the "Company" or "we") disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. The Company cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company, including risks and uncertainties described in the "Risk Factors" section of our Registration Statement on Form S-1 filed with the SEC on March 16, 2023, as amended, and other documents that we file from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. The Company can give no assurances that the Company will achieve its expectations. Company Contact:  Bala MadmakumarInterim Chief Executive OfficerFour Leaf Acquisition CorporationEmail: [email protected] SOURCE Four Leaf Acquisition Corporation WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Related News