FutureTech II Acquisition Faces Delisting Threat from Nasdaq

FutureTech II Acquisition Corp. (NASDAQ:FTIIU) is currently facing a potential delisting from The Nasdaq Stock Market following notifications from the Listing Qualifications Department. The recent Form 8-K filing provides details on the company’s noncompliance with Nasdaq Market Value Standards and the ensuing consequences.

As disclosed in the filing, the Company received a notice on October 23, 2024, indicating that it had not met the Market Value of Listed Securities (MVLS) requirements necessary for continued listing on The Nasdaq Global Market. Subsequently, the company was given until October 30, 2024, to either appeal the delisting determination or apply to list its securities on The Nasdaq Capital Markets.

Failure to take action by the given deadline will result in the suspension of trading for FutureTech II Acquisition’s Class A Common Stock, Warrants, and Units starting November 1, 2024. A Form 25-NSE will also be filed with the Securities and Exchange Commission to remove the company’s securities from listing and registration on The Nasdaq Stock Market.

The company has expressed its intention to appeal the delisting determination to a Hearings Panel by October 30, 2024, although success is not guaranteed. Additionally, FutureTech II Acquisition Corp. is considering transferring the listing of its securities to The Nasdaq Capital Market by the same date, provided it meets the necessary listing requirements.

The Form 8-K filing also includes cautionary language regarding forward-looking statements, emphasizing that actual results may differ from those projected. Factors affecting future events include the Company’s ability to appeal the delisting determination successfully, resolve the MVLS deficiency, regain compliance, or transfer securities to The Nasdaq Capital Market.

Investors are advised to monitor updates on the situation as FutureTech II Acquisition navigates the regulatory challenges and works towards maintaining its listing on the Nasdaq stock exchange.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read FutureTech II Acquisition’s 8K filing here.

About FutureTech II Acquisition

FutureTech II Acquisition Corp. does not have significant operations. The company intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It focuses on business operating in the technology industry, including artificial intelligence (AI), robotic process automation, and other related technology market.