Newbury Street Acquisition Corporation Announces Receipt Of Nasdaq Letter, Indicating That The Company Was Not In Compliance With Nasdaq Listing Rule 5250(c)(1)
Portfolio Pulse from Benzinga Newsdesk
Newbury Street Acquisition Corporation (NBST) received a Nasdaq non-compliance letter for not filing its annual report on time. The delay is due to the need for additional time to finalize the 2023 financial statements. NBST expects to file the report soon.
May 03, 2024 | 10:39 pm
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NBST received a Nasdaq non-compliance letter for not timely filing its annual report, expecting to file it soon.
Receiving a non-compliance letter from Nasdaq typically has a negative impact on investor confidence and can lead to a decrease in stock price in the short term. The company's assurance of filing the report soon may mitigate some concerns, but the initial reaction is likely to be negative.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100