Cascadia Acquisition in an 8-K said it received a delisting notice from the nasdaq for falling below the minimum $50 million market cap for 30 consecutive trading days.

The SPAC has until Oct. 30 to regain compliance. Failing that, it could downlist to the The Nasdaq Capital Market.

Cascadia said it intends to evaluate available options and regain compliance.

Following a deadline extension vote in February, Cascadia had disclosed that 14,710,805 shares were redeemed. That wiped out 78% of the 18.75 million shares outstanding.

Cascadia last month terminated a $375 million merger agreement with RealWear, a hands-free wearable tablet company that provides assisted-reality solutions for industrial use. Read more.

Source: Cascadia Acquisition Faces Nasdaq Delisting For Falling Below Minimum Market Cap