International Media Acquisition Corp. Receives Notification Of Deficiency From Nasdaq Related To Delayed Filing Of Quarterly Report On Form 10-Q
Portfolio Pulse from Benzinga Newsdesk
International Media Acquisition Corp. (IMAQ) received a notice from Nasdaq for not complying with Listing Rule 5250(c)(1) due to the delayed filing of its Q3 2023 Form 10-Q. The company has 60 days to file the report or submit a compliance plan, with a possible extension of up to 180 days. IMAQ is working to file the report promptly to regain compliance. The notice does not immediately affect IMAQ's Nasdaq listing or trading.
December 04, 2023 | 4:23 pm
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NEGATIVE IMPACT
IMAQ was notified by Nasdaq of non-compliance due to a delayed Q3 2023 report filing. The company has 60 days to address the issue, with the possibility of an extension. There's no immediate impact on its Nasdaq trading status.
Receiving a deficiency notice from Nasdaq typically has a negative impact on investor sentiment and can lead to a decrease in stock price in the short term. However, since the notice does not immediately affect the listing or trading of IMAQ's securities, the impact may be somewhat mitigated. The company's proactive approach to resolving the issue may also help to alleviate investor concerns.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100