Alcentra Capital Corp. received a noncompliance letter from the Listing Qualifications Department of the Nasdaq Stock Market due to the company's failure to hold an annual meeting within 12 months of the end of the fiscal year ended Dec. 31, 2018.
Alcentra Capital postponed its annual meeting of shareholders due to the pending merger of the company into Crescent Capital BDC Inc.
As of Jan. 7, the company has 45 calendar days to submit a plan to Nasdaq to regain compliance. If the plan is accepted, Nasdaq can grant an exception of up to 180 calendar days from the fiscal year ended Dec. 31, 2019, or until June 29, to allow Alcentra to regain compliance.
If the deal is not completed prior to Feb. 21, Alcentra Capital intends to submit a plan to regain compliance with Nasdaq Listing Rules no later than Feb. 21.