Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing
On March 23, 2023, Achari Ventures Holdings Corp. I, a Delaware company (the
"Company") received a letter (the "Letter") from the staff at The Nasdaq Global
Market ("Nasdaq") notifying the Company that, for the 30 consecutive trading
days prior to the date of the Letter, the Company's common stock had traded at a
value below the minimum $50,000,000 "Market Value of Listed Securities" ("MVLS")
requirement set forth in Nasdaq Listing Rule 5450(b)(2)(A), which is required
for continued listing of the Company's common stock on Nasdaq. The Letter is
only a notification of deficiency, not of imminent delisting, and has no current
effect on the listing or trading of the Company's securities on Nasdaq.
In accordance with Nasdaq listing rule 5810(c)(3)(C), the Company has 180
calendar days, or until September 19, 2023, to regain compliance. The Letter
notes that to regain compliance, the Company's common stock must trade at or
above a level such that the Company's MVLS closes at or above $50,000,000 for a
minimum of ten consecutive business days during the compliance period, which
ends September 19, 2023. The Letter further notes that if the Company is unable
to satisfy the MVLS requirement prior to such date, the Company may be eligible
to transfer the listing of its securities to The Nasdaq Capital Market (provided
that it then satisfies the requirements for continued listing on that market).
If the Company does not regain compliance by September 19, 2023, Nasdaq staff
will provide written notice to the Company that its securities are subject to
delisting. At that time, the Company may appeal any such delisting determination
to a hearings panel.
The Company intends to actively monitor the Company's MVLS between now and
September 19, 2023, and may, if appropriate, evaluate available options to
resolve the deficiency and regain compliance with the MVLS requirement. While
the Company is exercising diligent efforts to maintain the listing of its
securities on Nasdaq, there can be no assurance that the Company will be able to
regain or maintain compliance with Nasdaq listing standards.
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