on March 28, Zalatoris II Acquisition Corp Received Notice From Nasdaq Stating That Co Has Not Regained Compliance With Rule Within Compliance Period, Unless Co Requests Appeal Of Nasdaq Determination By April 4, Co's Securities Will Be Delisted From Nasdaq; Intends To Appeal Nasdaq Determination By Requesting Hearing To Hearings Panel
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Zalatoris II Acquisition Corp (ZLS) received a notice from Nasdaq on March 28 stating that it has not regained compliance with Nasdaq's rules within the compliance period. Unless ZLS requests an appeal by April 4, its securities will be delisted from Nasdaq. ZLS intends to appeal the determination by requesting a hearing to the hearings panel.
April 03, 2024 | 8:52 pm
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NEGATIVE IMPACT
Zalatoris II Acquisition Corp received a notice from Nasdaq about potential delisting due to non-compliance. The company plans to appeal.
The notice of potential delisting from Nasdaq is a significant negative development for Zalatoris II Acquisition Corp. It indicates regulatory compliance issues that could affect investor confidence and the stock's liquidity. The intention to appeal shows the company is taking steps to address the issue, but the uncertainty until the appeal's outcome is likely to have a negative impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100