DelistingJun 5, 2026, 05:06 PM
Ribbon Acquisition Corp. Faces Nasdaq Delisting Over Unpaid Fees
AI Summary
Ribbon Acquisition Corp. received a staff determination letter from Nasdaq on June 4, 2026, notifying the company of Nasdaq's decision to delist its securities. This action stems from the company's failure to pay $75,000 in required Nasdaq listing fees. Ribbon Acquisition Corp. plans to appeal the determination to a Hearings Panel, which will temporarily stay the delisting process. The company is in discussions with Nasdaq to resolve the outstanding fees but cannot guarantee the maintenance of its Nasdaq listing.
Key Highlights
- Ribbon Acquisition Corp. received a delisting notice from Nasdaq on June 4, 2026.
- The delisting is due to the company's failure to pay $75,000 in Nasdaq listing fees.
- The company intends to appeal Nasdaq's determination to a Hearings Panel.
- The appeal request must be submitted by June 11, 2026, 4:00 p.m. Eastern Time.
- The fee for the appeal hearing is $20,000.
- An appeal will automatically stay the suspension of securities and Form 25-NSE filing.
Price Impact
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