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Capitol Investment Corp. IV receives noncompliance notice from NYSE

The New York Stock Exchange on Oct. 3 informed Capitol Investment Corp. IV that it is not in compliance with the exchange's continued listing standard.

According to a news release, the company does not meet the NYSE Listed Company Manual's requirement of having a minimum of 300 public stockholders, which includes beneficial holders and holders of record, but does not include any holder who is, either directly or indirectly, an executive officer, director, or the beneficial holder of more than 10% of the total shares outstanding.

The company intends to cure the deficiency within 18 months from the date of the notice, or by April 3, 2020.

It hopes that the issue will be resolved once it effects an initial business combination with a target business.