FutureTech II Acquisition Faces Potential Delisting from Nasdaq Due to Delayed Filing of Quarterly Report

FutureTech II Acquisition Corp. (NASDAQ: FTIIU) recently disclosed in an 8-K filing with the Securities and Exchange Commission (SEC) dated November 27, 2024, that it is facing a potential delisting from The Nasdaq Stock Market LLC (Nasdaq). The company is currently delayed in filing its Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 (Q3 10-Q), leading to non-compliance with Nasdaq Listing Rule 5250(c)(1.

According to the disclosure, FutureTech II Acquisition Corp. received a deficiency notification letter from Nasdaq on November 27, 2024, highlighting the failure to timely file the Q3 10-Q. This delay has resulted in the company not meeting the minimum publicly held shares requirement stipulated in Nasdaq Listing Rule 5450(b)(2)(B).

The company is already under review by a Hearings Panel for non-compliance with the Market Value of Listed Securities requirement of Nasdaq Listing Rule 5420(a)(2). As a response, FutureTech II Acquisition Corp. has until December 4, 2024, to request a stay of suspension, pending a decision from the Hearings Panel.

On December 4, 2024, the company requested the Staff to provide an exception to allow it to regain compliance by filing the Q3 10-Q by December 13, 2024. FutureTech II Acquisition Corp. has engaged an investment bank to help increase the retail distribution of its listed securities to meet the Publicly Held Shares Rule and Market Value of Listed Shares Rule.

While the company is diligently working towards regaining compliance, there are no guarantees of success. FutureTech II Acquisition Corp. expressed uncertainties regarding maintaining compliance with Nasdaq’s listing criteria. The company is striving to regain compliance with Nasdaq regulations but highlighted potential challenges and risks associated with the process.

In a press release issued on December 4, 2024, FutureTech II Acquisition Corp. provided details on its plans to address the deficiency issues. However, it cautioned that forward-looking statements are subject to risks and uncertainties that may impact actual results.

FutureTech II Acquisition Corp. is a blank check company incorporated in Delaware with the goal of facilitating various business combinations or reorganizations. Investors and stakeholders are advised to pay attention to further updates from the company as it navigates the process to regain compliance with Nasdaq regulations.

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.

FutureTech II Acquisition Company Profile

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.