Plum Acquisition IV receives Nasdaq deficiency notice over minimum holder requirement
PLMK•Plum Acquisition IV received a Nasdaq deficiency notice on October 7 for failing to meet the 400-holder requirement. It has 45 calendar days to submit a compliance plan; Nasdaq may allow up to 180 calendar days from the notice date to demonstrate compliance if it accepts the plan.
1. Nasdaq notice
Plum Acquisition IV said it received a deficiency notice for noncompliance with Nasdaq Listing Rule 5450(a)(2), which requires at least 400 total holders. The notice has no immediate effect on its Nasdaq Global Market listing or trading. The company may appeal to a Nasdaq Hearings Panel if its compliance plan is rejected.
