ARC Group Securities Acquisition I

ARC Group Securities Acquisition I (FJDIU) received a notice from Nasdaq indicating its warrants are non-compliant with continued listing rules due to an aggregate market value below $1 million. The company has 45 days to submit a plan to regain compliance, with a potential extension up to 180 days if the plan is accepted. This notice is a deficiency notification and does not currently affect the trading of the warrants.

ARC Group Securities Acquisition I completed its initial public offering (IPO) of 10,500,000 units at $10.00 per unit, generating $105,000,000 in gross proceeds. Concurrently, the company completed a private placement of 140,000 units to its Sponsor for $1,400,000. A total of $106,400,000 from these offerings was placed in a trust account, with $105,000,000 remaining after expenses. The company's auditor, however, raised substantial doubt about its ability to continue as a going concern due to the limited timeframe to complete a business combination.