RF Acquisition Corp. Facing Delisting from Nasdaq: Appeal Planned

RF Acquisition Corp. (NASDAQ: RFACU) has recently been notified by the Nasdaq Stock Market LLC about its failure to comply with Listing Rule 5450(a)(2), which necessitates the company to maintain at least 400 total holders for continued listing on the Nasdaq Global Market. The initial notification was received on April 29, 2024, allowing a 45-day period to submit a compliance plan.

The company submitted its compliance plan on June 11, 2024, citing efforts to ensure the necessary number of holders in connection with its Business Combination Agreement. Despite these efforts, a subsequent notice on October 30, 2024, indicated that RF Acquisition Corp. did not regain compliance within the specified timeframe.

Unless an appeal is requested, the securities of RF Acquisition Corp. are set to be delisted from the Nasdaq Global Market. Trading suspension is slated for November 8, 2024, with plans to file a Form 25-NSE for the removal of securities from Nasdaq.

RF Acquisition Corp. intends to challenge this determination by requesting a hearing with Nasdaq’s Hearings Panel, following the procedures outlined in the Nasdaq Listing Rule 5800 Series to halt the trading suspension and Form 25-NSE filing pending the Panel’s decision.

The forward-looking statements in the Current Report caution that there is no assurance of regaining compliance with Nasdaq Listing Rule 5450(a)(2) or meeting the required Nasdaq standards in the future. The company does not guarantee any relief from delisting or meeting Nasdaq’s compliance requirements.

As of the date of the report, RF Acquisition Corp. has made no commitment to publicly update the forward-looking statements unless required by law.

This news is relevant to potential investors and stakeholders of RF Acquisition Corp. as the company navigates the possibility of delisting from the Nasdaq Global Market, pending the outcome of its appeal process.

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

About RF Acquisition

RF Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses in financial services, media, technology, retail, interpersonal communication, transportation, and education sectors.