Monterey Capital Acquisition Faces Potential Delisting from Nasdaq – A Compliance Challenge Ahead

Monterey Capital Acquisition (OTCMKTS: MCACU) recently received a notice from the Listing Qualifications Department of the Nasdaq Stock Market LLC regarding its failure to meet the Market Value of Publicly Held Shares (MVPHS) requirement set under Nasdaq Listing Rule 5450(b)(2)(C).

The notification letter, dated December 13, 2024, highlighted that based on Nasdaq’s assessment of the Company’s MVPHS for the 33 consecutive business days prior to the notification, Monterey Capital Acquisition fell short of the mandated minimum MVPHS of $15,000,000.

In response to this development, Monterey Capital Acquisition has been afforded a compliance period of 180 calendar days, ending on June 11, 2025, during which it has the opportunity to regain compliance with the Nasdaq listing rule. The Company has been informed that should its MVPHS close at $15,000,000 or above for a continuous span of at least ten business days within this compliance window, Nasdaq will confirm its compliance, thereby resolving the issue.

As part of the protocol, if Monterey Capital Acquisition fails to rectify the non-compliance and satisfy the rule prior to the expiration of the compliance period, it will receive written notification of potential delisting. In such an event, the Company retains the right to appeal the delisting determination to a Nasdaq hearings panel.

Monterey Capital Acquisition has assured stakeholders of its proactive efforts aimed at achieving compliance with Nasdaq’s listing standards. However, the Company has also emphasized that there are no guarantees of regaining compliance within the designated timeline.

It is crucial to note that the notice received by Monterey Capital Acquisition does not trigger any immediate impact on the trading or listing status of the Company’s common stock on Nasdaq. This disclosure aligns with Nasdaq Listing Rule 5810(b), mandating prompt reporting of any deficiency notifications.

In conclusion, Monterey Capital Acquisition is now tasked with navigating the path to regain compliance with Nasdaq’s listing regulations within the stipulated timeframe. The Company’s proactive stance in addressing this compliance challenge will be closely monitored by investors and industry observers as it progresses towards resolving this matter.

This announcement was made pursuant to the regulatory obligations outlined by Nasdaq, ensuring the transparent and timely disclosure of any deficiency notifications received.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Monterey Capital Acquisition’s 8K filing here.

About Monterey Capital Acquisition

Monterey Capital Acquisition Corporation does not have significant operations. It focuses on acquiring, merging with, engaging in capital stock exchange with, purchasing all or substantially all of the assets of, engaging in contractual arrangements, or engaging in any other similar business combination with a single operating entity, or one or more related or unrelated operating entities operating in any sector.