공시 • Apr 10
The Nasdaq Stock Market to Delist the Class A Common Stock of Atlantic Coastal Acquisition Corp The Nasdaq Stock Market announced on April 08, 2024 that it will delist the Class A Common Stock, unit, and warrants of Atlantic Coastal Acquisition Corp. Atlantic Coastal Acquisition Corp.’s securities were suspended on February 26, 2024, and have not traded on Nasdaq since that time. 공시 • Feb 17
Atlantic Coastal Acquisition Corp. Announces the Resignation of Khash—Erdene Gantumur as Chief Financial Officer On February 14, 2024, Khash—Erdene Gantumur resigned as Chief Financial Officer of Atlantic Coastal Acquisition Corp. Mr. Gantamur’s resignation is effective immediately. 공시 • Feb 16
Atlantic Coastal Acquisition Receives Expected Nasdaq Delisting Determination Atlantic Coastal Acquisition Corp. (the ‘Company’) announced that on February 14, 2024, the Company received a Staff Delisting Determination (the ‘Staff Determination’) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (‘Nasdaq’) notifying the Company that for the reasons discussed below trading of the Company's common stock will be suspended from The Nasdaq Capital Market at the opening of business on February 23, 2024, and a Form 25-NSE will be filed with the Securities and Exchange Commission (the ‘SEC’), which will remove the Company's securities from listing and registration on The Nasdaq Stock Market. On August 17, 2023, and November 20, 2023, Staff notified the Company that it did not comply with Nasdaq's filing requirements set forth in Listing Rule 5250(c)(1) (the ‘Rule’) because it had not filed its Form 10-Q for the period ended June 30, 2023, and its Form 10-Q for the period ended September 30, 2023 (the ‘Delinquent Reports’). Based on its review and the materials submitted by the Company on October 31, 2023, the Staff granted the Company an exception until February 13, 2024, to regain compliance with the Rule. However, the Staff has determined that the Company did not meet the terms of the exception by not filing the Delinquent Report by the February 13, 2024 deadline. The Staff has also determined that since the Company has not yet held an annual meeting of shareholders within twelve months of the end of the Company's fiscal year end, it no longer complies with Nasdaq's Listing Rules (the ‘Rules’) for continued listing. This matter serves as an additional and separate basis for delisting. Although the Company may request a hearing regarding the Staff Determination before a Nasdaq Hearings Panel and seek a further stay of the delisting action pending the hearing process and an additional extension period in accordance with the procedures set forth in the Staff Determination, it does not intend to do so. Board Change • Feb 15
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Director Shahraab Ahmad is the most experienced director on the board, commencing their role in 2020. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. 공시 • Nov 22
Atlantic Coastal Acquisition Receives Notice from the Nasdaq Stock Market On November 20, 2023, Atlantic Coastal Acquisition Corp. received notice from the Nasdaq Stock Market LLC that the Company was not in compliance with Nasdaq’s continued listing standards as set in Listing Rule 5250(c)(1) given the Company’s failure to timely file its quarterly report on Form 10-Q for the quarter ended September 30, 2023. The Notice states that the Company must provide a specific plan to achieve and sustain compliance with the Listing Rules by no later than December 5, 2023. The Company expects to file the Report in the coming weeks. Previously, the Nasdaq Staff had granted the Company an exception until February 13, 2024, to file its delinquent 10-Q for the period ended June 30, 2023. As a result, any additional Staff exception to allow the Company to regain compliance with all delinquent filings, will be limited to a maximum of 180 calendar days from the due date of the Initial Delinquent Filing, or February 13, 2024. 공시 • Nov 17
Atlantic Coastal Acquisition Corp. announced delayed 10-Q filing On 11/15/2023, Atlantic Coastal Acquisition Corp. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. 공시 • Oct 31
Atlantic Coastal Acquisition Corp. announced delayed amended 10-Q filing On 10/30/2023, Atlantic Coastal Acquisition Corp. announced that they will be unable to file their amended 10-Q by the deadline required by the SEC. 공시 • Sep 24
Atlantic Coastal Acquisition Corp. announced delayed 10-Q filing On 09/22/2023, Atlantic Coastal Acquisition Corp. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Board Change • Sep 15
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. President & Director Burt Jordan is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. 공시 • Sep 07
Atlantic Coastal Acquisition Corp. Receives A Notice of Non-Compliance from Nasdaq for Failure to Timely File Its Second Quarter 2023 Form 10-Q Atlantic Coastal Acquisition Corp. (the Company") was unable to file its quarterly report on Form 10-Q for the quarter ended June 30, 2023 (the Report") with the Securities and Exchange Commission (the SEC") by August 14,2023, the statutory deadline to file the Report. On August 17, 2023, the Company received notice (the Notice") from the Nasdaq Stock Market LLC (Nasdaq") that the Company was not in compliance with Nasdaq's continued listing standards (the Listing Rules") as set forth in Listing Rule 5250(c)(1) given the Company's failure to timely file the Report. Consistent with the Listing Rules, the Company has 60 calendar days from the date of the Notice to provide Nasdaq with a specific plan to achieve and sustain compliance with the Listing Rules. The Company expects to file the Report in the coming weeks. 공시 • Aug 19
Nasdaq to File Form 25 with the United States Securities and Exchange Commission to Delist Atlantic Coastal Acquisition's Securities On August 18, 2023, Atlantic Coastal Acquisition Corp. announced that it will redeem all of its outstanding shares of Class A common stock (the ‘public shares’), effective as of August 18, 2023, because the Company will not consummate an initial business combination within the time period required by its Second Amended and Restated Certificate of Incorporation (the ‘Certificate of Incorporation’). Net of taxes, the Company expects the per-share redemption price for the public shares will be approximately $10.40 (the ‘Redemption Amount’). The last day that the Company's securities will trade on the Nasdaq Stock Market LLC (‘Nasdaq’) will be August 18, 2023. As of August 21, 2023, the public shares will be deemed cancelled and will represent only the right to receive the Redemption Amount. After August 21, 2023, the Company shall cease all operations except for those required to wind up the Company's business. The Company expects that Nasdaq will file a Form 25 with the United States Securities and Exchange Commission (the ‘Commission’) to delist its securities. The Company thereafter expects to file a Form 15 with the Commission to terminate the registration of its securities under the Securities Exchange Act of 1934, as amended. Board Change • Aug 15
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. President & Director Burt Jordan is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. 공시 • May 29
Atlantic Coastal Acquisition Receives Notification of Deficiency from Nasdaq Related to Delayed Quarterly Report on Form 10-Q On May 26, 2023, Atlantic Coastal Acquisition Corp. announced that it had previously received written notification (the ‘Notice’) from the Listing Qualifications Department of The Nasdaq Stock Market (‘Nasdaq’) on May 24, 2023 that, because the Company had not yet filed its Quarterly Report on Form 10-Q for the three month period ended March 31, 2023 (the ‘10-Q’) with the Securities and Exchange Commission (‘SEC’), the Company was not in compliance with Nasdaq’s continued listing requirements under Nasdaq Listing Rule 5250(c)(1). The Notice has no immediate effect on the listing of the Company’s securities on Nasdaq. The Notice states that the Company has 60 calendar days from the date of the Notice to provide Nasdaq with a specific plan to achieve and sustain compliance. On May 25, 2023, the Company filed the 10-Q. 공시 • May 16
Atlantic Coastal Acquisition Corp. announced delayed 10-Q filing On 05/15/2023, Atlantic Coastal Acquisition Corp. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Board Change • Dec 31
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. President & Director Burt Jordan is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Aug 17
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Director Joanna Lord was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 공시 • May 18
Atlantic Coastal Acquisition Corp. announced delayed 10-Q filing On 05/17/2021, Atlantic Coastal Acquisition Corp. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.