Form 8-K - Current report
January 17 2024 - 5:00PM
Edgar (US Regulatory)
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UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Form 8-K
Current
Report
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
January
10, 2024
Date
of Report (Date of earliest event reported)
Yotta Acquisition Corporation
(Exact
Name of Registrant as Specified in its Charter)
Delaware |
|
001-41357 |
|
00-0000000N/A |
(State
or other jurisdiction
of
incorporation) |
|
(Commission
File
Number) |
|
(I.R.S.
Employer
Identification
No.) |
1185 Avenue of the Americas, Suite 301
New York, NY 10036 |
|
10036 |
(Address
of Principal Executive Offices) |
|
(Zip
Code) |
Registrant’s
telephone number, including area code: (212) 612-1400
N/A
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐ |
Written
communications pursuant to Rule 425 under the Securities Act |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Units |
|
YOTAU |
|
The Nasdaq Stock
Market LLC |
Common
Stock |
|
YOTA |
|
The Nasdaq Stock
Market LLC |
Warrants |
|
YOTAW |
|
The Nasdaq Stock
Market LLC |
Rights |
|
YOTAR |
|
The Nasdaq Stock
Market LLC |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR
§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging
growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item
3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
On January 10, 2024,
Yotta Acquisition Corporation (the “Company”) received written notice (the “Notice”) from the Listing Qualifications
Department of The Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company is not in compliance with Nasdaq Listing Rule
5450(b)(2) (the “Rule”) because the Company has not maintained a minimum Market Value of Listed Securities (“MVLS”)
of at least $50 million. The Notice has no immediate effect on the listing or trading of the Company’s listed securities (the “Listed
Securities”).
The
Company has 180 calendar days from the date of the Notice, or until July 8, 2024, to regain compliance. If at any time during this 180
day period the MVLS is at least $50 million for a minimum of ten consecutive business days, Nasdaq will provide the Company with written
confirmation of compliance and this matter will be closed. Alternatively, the Company may consider applying for a transfer to the Nasdaq
Capital Market (the “Capital Market”). In order to transfer, the Company must submit an on-line Transfer Application, pay
a $5,000 fee and meet the Capital Market’s continued listing requirements.
If the Company does not
regain compliance with the MVLS requirement within the compliance period, the Company’s Listed Securities will be subject to delisting.
In the event the Company receives notice that the Company’s Listed Securities are being delisted, Nasdaq’s rules permit the
Company to appeal the delisting determination by the Nasdaq staff to a hearings panel.
The Company intends
to monitor the market value of the Company’s Listed Securities and may, if appropriate, consider available options to regain compliance
with the MVLS requirement. There can be no assurance that the Company will be able to regain compliance with the MVLS requirement.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Dated: January
17, 2024 |
Yotta
Acquisition Corporation |
|
|
|
|
By: |
/s/
Hui Chen |
|
Name: |
Hui Chen |
|
Title: |
Chief Executive
Officer |
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