NEW
YORK, May 31, 2023 /PRNewswire/ - Achari
Ventures Holdings Corp. I (NASDAQ: AVHI) (the "Company" or
"Achari") today announced that as it had previously disclosed, the
Company received a deficiency letter on May
23, 2023 from the Listing Qualifications Department of The
NASDAQ Stock Market LLC ("Nasdaq"), stating that the Company is not
in compliance with Nasdaq Listing Rule 5250(c)(1), as a result of
the Company's delay in filing its Form 10-Q for the period ending
March 31, 2023 (the "Form 10-Q") with the Securities and Exchange
Commission (the "SEC").
On May 26, 2023, the Company filed
its Form 10-Q for the period ended March 31, 2023 with the SEC.
About Achari Ventures Holdings Corp. I
Achari is a blank check company formed for the purpose of
effecting a merger, capital stock exchange, asset acquisition,
stock purchase, reorganization or similar business combination with
one or more businesses. It has not selected any specific business
combination target at this time and has not, nor has anyone on its
behalf, entered into any agreements, directly or indirectly, with
any business combination target.
Forward Looking Statements
This press release contains "forward-looking statements" within
the meaning of the federal securities laws. All statements other
than statements of historical fact included herein are
"forward-looking statements." These forward-looking statements are
often identified by the use of forward-looking terminology such as
"believes," "expects," or similar expressions, involve known and
unknown risks and uncertainties, and include the statement
regarding the completion of the business combination within a
certain period of time, if ever. Although the Company believes that
the expectations reflected in such forward-looking statements are
reasonable, they do involve assumptions, risks, and uncertainties,
and these expectations may prove to be incorrect. You should not
place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. The Company's
actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of risks
and uncertainties, such as risks related to: our ability to obtain
necessary regulatory approvals and other risks and uncertainties
disclosed under the sections entitled "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations" in our registration statement filed with the
SEC in connection with our initial public offering and similar
disclosures in our subsequent reports filed with the SEC, which are
available on the SEC website at http://www.sec.gov/. All
forward-looking statements attributable to the Company or persons
acting on its behalf are expressly qualified in their entirety by
these risk factors. Other than as required under the securities
laws, the Company does not assume a duty to update these
forward-looking statements.
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SOURCE Achari Ventures Holdings Corp. I