Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing
On April 11, 2023, Technology & Telecommunication Acquisition Corporation (the
"Company") received a letter (the "MVLS Notice") from the Listing Qualifications
Department (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") notifying the
Company that for the last 30 consecutive business days prior to the date of the
MVLS Notice, the Company's Minimum Market Value of Listed Securities ("MVLS")
was less than $50.0 million, which does not meet the requirement for continued
listing on The Nasdaq Global Market, as required by Nasdaq Listing Rule
5450(b)(2)(A) (the "MVLS Rule"). In accordance with Nasdaq Listing Rule
5810(c)(3)(C), the Staff has provided the Company with 180 calendar days, or
until October 9, 2023, to regain compliance with the MVLS Rule. The MVLS Notice
has no immediate effect on the listing of the Company's securities on The Nasdaq
Global Market.
If the Company regains compliance with the MVLS Rule, the Staff will provide
written confirmation to the Company and close the matter. To regain compliance
with the MVLS Rule, the Company's MVLS must meet or exceed $50.0 million for a
minimum of ten consecutive business days during the 180-day compliance period
ending on October 9, 2023. In the event the Company does not regain compliance
with the MVLS Rule prior to the expiration of the compliance period, it will
receive written notification that its securities are subject to delisting. At
that time, the Company may appeal the delisting determination to a Hearings
Panel.
The Company will continue to monitor its MVLS and consider its available options
to regain compliance with the MVLS Rule. However, there can be no assurance that
the Company will be able to regain compliance with the MVLS Rule.
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