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Ault Disruptive Technologies Corporation, a special purpose acquisition company (the "Company"), today announced that the NYSE American (the "Exchange") has accepted the Company's business plan to regain compliance with the Exchange's continued listing standards as set forth in Sections 1003(b)(i)(A) and (B) of the NYSE American Company Guide (the "Company Guide").
As previously reported, on July 21, 2023, the Company received notification (the "Letter") from the Exchange that it was not in compliance with the continued listing standards set forth in the Company Guide. Specifically, the Letter indicated that the Company was not in compliance with Sections 1003(b)(i)(A) and 1003(b)(i)(B) of the Company Guide, which requires a listed company to maintain a minimum of 200,000 shares publicly held and a minimum of 300 public stockholders on a continuous basis, respectively. The Company submitted a plan of compliance (the "Plan") to the Exchange on August 18, 2023, addressing how the Company intends to regain compliance with these requirements by December 20, 2024.
Posted In: ADRT
