Cactus Acquisition in an 8-K said it reeceived notice about a potential delisting from the Nasdaq for falling below the minimum $50 million market cap to reade on the exchange.
Cactus 1 has until Dec. 26 to regain compliance. The SPAC said it will consider its options.
Cactus 1 raised $126.5 million in an upsized ipo in October 2021. The SPAC is focused on Israel-related technology-based healthcare companies.
The plunge in the SPAC's market cap follows redemptions of 10,185,471 Class A ordinary shares in connection with an April extension vote, which left 2,464,529 shares outstanding.
Cactus 1 now has until Nov. 2 to close a deal. Read more.