On Dec 18, Corner Growth Acquisition Got Nasdaq Note That Unless Co Requests Hearing Before Panel, Securities To Be Suspended, Delisted From Nasdaq; Has Timely Requested A Hearing Before Panel To Request Sufficient Time To Complete A Business Combination
Portfolio Pulse from Benzinga Newsdesk
Corner Growth Acquisition Corp. received a notice from Nasdaq on Dec 18 stating that its securities are subject to suspension and delisting unless the company requests a hearing before a panel. The company has timely requested such a hearing to ask for more time to complete a business combination, according to an SEC filing.
December 22, 2023 | 9:27 pm
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NEGATIVE IMPACT
Corner Growth Acquisition Corp. is at risk of being delisted from Nasdaq unless it can convince a panel to give it more time to complete a business combination.
The notice of potential delisting is a significant negative regulatory event that can lead to a decrease in investor confidence and a potential drop in the stock price in the short term. The company's request for a hearing indicates that it is taking steps to address the issue, but the uncertainty surrounding the outcome of the hearing and the completion of a business combination can still negatively impact the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100