The Nasdaq Stock Market has informed Atlantic Alliance Partnership Corp. that it will delist its securities from the exchange.
On March 29, the Nasdaq Stock Market notified Atlantic Alliance that it did not comply with a listing rule that requires it to have at least 300 public holders of ordinary shares. The company was given an extension until Sept. 25 to comply with the rule, but the Nasdaq Stock Market determined that the company failed to satisfy the terms of the extension.
The company may appeal the decision to delist its securities. However, if the company does not appeal the determination, Nasdaq will suspend the trading of its ordinary shares at the opening of business on Oct. 5 and ultimately delist its securities.
As of Oct. 2, the company said it is evaluating its options for its public markets strategy.