Genesis Growth Tech Acquisition Corp. (NASDAQ:GGAA) (“GGAA” or “Genesis”), announced today that it had received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) stating GGAA was not in compliance with Nasdaq Listing Rule 5250(c)(1), as a result of not having timely filed its Quarterly Report on Form 10-Q for the period ended March 31, 2023 and for remaining delinquent in filing its Annual Report on Form 10-K for the year ended December 31, 2022.
The Nasdaq notification letter has no immediate effect on the listing of the Company’s units, common stock or warrants on The Nasdaq Global Market. The Nasdaq notification letter provides the Company until June 20, 2023, to submit a plan to Nasdaq to regain compliance with the NASDAQ’s continued listing requirements. If the plan is accepted, Nasdaq can grant an exception of up to 180 calendar days, or until October 16, 2023, for the Company to regain compliance. If Nasdaq does not accept the Company’s compliance plan, the Company will have the opportunity to appeal that decision to a Hearing Panel under Nasdaq Listing Rule 5815.
This announcement is made in compliance with Nasdaq Listing Rule 5250(b)(2).