Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On February 1, 2023, OmniLit Acquisition Corp. (the "Company") received a
written notice (the "Notice") from the Listing Qualifications Department of the
Nasdaq Stock Market ("NASDAQ") indicating that the Company required to maintain
a minimum of 1,100,000 publicly held shares (which is equal to total shares
outstanding less any shares held by officers, directors, or beneficial owners of
10 percent or more) for continued listing on Nasdaq Global Market and did not
comply with Listing Rules.
Following receipt of the Notice, the Company promptly responded on February 3,
2023 and informed NASDAQ that the company had 1,348,049 publicly held shares. On
February 6, 2023, NASDAQ provided a letter stating the Company complies with the
Rule. Per the NASDAQ letter, the matter is now closed.
Item 8.01 Other Events.
On January 31, 2023, OmniLit Sponsor LLC voluntarily converted 1,000,00 shares
of Class B common stock of the Company it held as of such date into 1,000,000
shares of Class A common stock of the Company in accordance with the Charter. As
a result of the foregoing and the results of the Meeting described above, the
Company has an aggregate of 2,348,049 shares of Class A common stock and
3,791,667 shares of Class B common stock. As a result, there are no beneficial
owners of the Company of 10 percent or more other than OmniLit Sponsor LLC.
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