The Nasdaq Hearings Panel granted Alliance MMA Inc.'s request to continue listing on the Nasdaq Capital Market, subject to Alliance MMA's fulfillment of certain conditions, such as interim funding milestones.
In August, the professional mixed martial arts company signed a definitive agreement to acquire SCWorx, a big data software-as-a-service company, in an all-stock deal that will result in SCWorx obtaining a controlling interest in Alliance MMA.
In accordance with the Nasdaq's decision, Alliance MMA has until Feb. 25, 2019, to complete its acquisition of SCWorx Corp. and show that the combined company meets the requirements for initial listing on the Nasdaq Capital Market. Upon the deal's completion, Alliance MMA will seek shareholder approval to change its name to SCWorx and change its ticker symbol on Nasdaq.
