10X Capital Venture Acquisition III said it was notified by the nyse American of non-compliance with a listing rule requiring at least 300 public shareholders. 10X III has until Feb. 28 to submit a plan for regaining compliance by Jan. 14, 2025. 10X III said it intends to submit a plan by the due date.
The SPAC transferred last October from the NYSE to the NYSE American, stating at the time that the decision “was motivated by several factors, including more favorable thresholds for continued listing on the NYSE American,” the SPAC said.
10X Capital Venture III in August last year announced a merger agreement with American Gene Technologies International at pre-money enterprise value of $500 million. At deal announcement, the transaction was expected to close in the first quarter of 2024.
10X III raised $261 million in a January 2022 IPO. Read more.