The New York Stock Exchange announced today that it has begun delisting the warrants of Berenson Acquisition I. Trading in the SPAC's Class A Common Stock — ticker symbol BACA — and units — ticker symbol BACA.U — will continue.
nyse Regulation has determined that the Company's warrants are no longer suitable for listing based on “abnormally low” price levels.
Berenson I has a right to a review of the decision.
Berenson on Tuesday announced the cancellation of its stockholders meeting that was scheduled for Feb. 7.
The SPAC had postponed that extension vote in December and again in January. Berenson in the proxy for the now-cancelled meeting wanted shareholders to approve an extension deadline from March 30 until Sept. 30.
Tuesday's announcement made no mention of what the SPAC's next move will be.
The SPAC raised $275 million in an October 2021 IPO with plans to focus on businesses operating in the software and technology-enabled services industry. Read more.
Source: NYSE Suspends Trading in Berenson I Warrants, Begins Delisting