UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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| Item 3.01 | Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
On June 5, 2023, Marblegate Acquisition Corp. (the “Company”) received a written notice (the “Notice”) from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company is not in compliance with Nasdaq Listing Rule 5450(a)(2) (the “Minimum Total Holders Rule”), which requires the Company to have at least 400 Total Holders for continued listing on The Nasdaq Global Market. The Notice is only a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of the Company’s securities on The Nasdaq Global Market.
The Notice states that the Company has 45 calendar days, or until July 20, 2023, to submit a plan to regain compliance with the Minimum Total Holders Rule. The Company intends to submit to Nasdaq a plan to regain compliance with the Minimum Total Holders Rule within the required timeframe, as well as contemplate the possibility of transferring the listing of the Company’s securities to The Nasdaq Capital Market. If the Staff accepts the Company’s plan, the Staff may grant the Company an extension of up to 180 calendar days from the date of the Notice, or until December 2, 2023, to evidence compliance with the Minimum Total Holders Rule. If the Staff does not accept the Company’s plan, the Company will have the opportunity to request a hearing before an independent Nasdaq Hearings Panel (the “Panel”). The hearing request would automatically stay any suspension or delisting action pending the hearing and the expiration of any additional extension period granted by the Panel following the hearing.
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.
| Marblegate Acquisition Corp. | ||||||
| Date: June 9, 2023 | By: | /s/ Jeffrey Kravetz | ||||
| Name: | Jeffrey Kravetz | |||||
| Title: | Chief Financial Officer | |||||