Yotta Acquisition said it filed a late 10-Q for the period ended March 31 after receiving a Nasdaq warning.
Yotta in January disclosed it was notified by the Nasdaq of a listing deficiency by falling below the $50 million minimum market value requirement. The SPAC has until July 8 to regain compliance.
As of today, Yotta’s market cap was about $43.4 million.
Yotta’s former merger partner NaturalShrimp terminated a deal with the SPAC in July last year. Yotta has been searching for a new target since then.
The SPAC originally raised $115 million in an April 2022 IPO to to target high technology, blockchain, software and hardware, ecommerce, social media and other general business industries globally.
Source: Yotta Acquisition Regains Nasdaq Compliance with Late 10-Q Filing