On April 16, Fortune Rise Acquisition Got Nasdaq Notice Notifying That Co Did Not Regain Compliance With Public Holders Rule During Extension Period; Company Submitted A Request For A Hearing
Portfolio Pulse from Benzinga Newsdesk
Fortune Rise Acquisition Corp. (FRLA) received a Nasdaq notice on April 16 for failing to regain compliance with the public holders rule during the extension period. The company has requested a hearing, as per an SEC filing.
April 22, 2024 | 8:49 pm
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Fortune Rise Acquisition Corp. received a Nasdaq non-compliance notice and has requested a hearing.
Receiving a notice from Nasdaq for failing to meet compliance requirements is generally seen as a negative development for a company. It raises concerns about the company's ability to meet exchange listing standards, which can affect investor confidence and potentially lead to a decrease in stock price in the short term.
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