Item 3.01 Notice of Delisting or Failure to Satisfy Continued Listing Rule or
Standard; Transfer of Listing
On April 3 2023, Western Acquisition Ventures Corp. (the "Company") received a
notice in the form of a letter (the "Notice") from the listing qualifications
department staff of The Nasdaq Stock Market ("Nasdaq") notifying the Company
that for the last 30 consecutive business days, the Company's Minimum Value of
Listed Securities ("MVLS") was below the minimum of $50 million required for
continued listing on the Nasdaq Global Market pursuant to Nasdaq listing rule
5450(b)(2)(A).
The Notice has no immediate effect on the listing of the Company's common stock,
warrants and units, and the Company's common stock continues to trade on the
Nasdaq Global Market under the symbols "WAVS," "WAVSW" and "WAVSU,"
respectively.
In accordance with Nasdaq listing rule 5810(c)(3)(C), the Company has 180
calendar days, or until October 2, 2023 to regain compliance. The Notice states
that to regain compliance, the Company's MVLS must close at $50 million or more
for a minimum of ten consecutive business days during the compliance period
ending October 2, 2023. The Company could alternatively apply for listing on the
Nasdaq Capital Market.
If the Company does not regain compliance by October 2, 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 Nasdaq hearings panel.
The Company intends to actively monitor the Company's MVLS between now and
October 2, 2023 and may, if appropriate, evaluate available options to resolve
the deficiency and regain compliance with the MVLS rule. While the Company is
exercising diligent efforts to maintain the listing of its common stock on
Nasdaq, there can be no assurance that the Company will be able to regain or
maintain compliance with Nasdaq listing standards.
© Edgar Online, source Glimpses
WESTERN ACQUISITION VENTURES CORP. 
