Hawks Acquisition in a statement said the NYSE has determined it is not in compliance with the minimum 300 shareholders requirement to remain listed on the exchange. The SPAC said it would present a plan to regain compliance and believes it will meet the requirement once it completes a business combination.
However, the SPAC presently has no deal in place. The NYSE suspended trading in Hawks warrants last October due to low price levels.
Hawks raised $200 million in an October 2021 IPO to focus on businesses that have either emerged from a restructuring or private companies that are burdened by leveraged capital structures. Read more.
Source: NYSE Puts Hawks Acquisition on Notice