Nova Vision Acquisition Receives Nasdaq Delisting Warning

Nova Vision Acquisition in an 8-K said it was notified by the that it is out of compliance with the minimum 300 shareholders rule. The SPAC said it will ask for a hearing, which will halt any suspension or delisting pending the outcome.

Nova Vision has a deal with Real Messenger, which offers a platform for real estate transactions.

The SPAC raised $57.5 million in an IPO two years ago, although redemptions since then have reduced the cash in trust to about $16.4 million. Nova Vision is seeking to raise $20 million from a to support the Real Messenger transaction.

Terms call for Real Messenger to receive 5 million shares. Read more.


Source: Nova Vision Acquisition Receives Nasdaq Delisting Warning