Alberton Acquisition Corporation Regains Compliance with Certain Nasdaq Listing Requirement
New York, Feb. 22, 2021 (GLOBE NEWSWIRE) -- Alberton Acquisition Corporation (NASDAQ: ALAC, the “Company”) today announced that on February 18, 2021, the Company received a letter from the Listing Qualifications Department of The NASDAQ Stock Market ("Nasdaq"), advising the Company that the Company had regained compliance with Nasdaq Listing Rule 5550(a)(3) which requires, among other requirements, that companies listed on the Nasdaq Capital Market have at least 300 public holders for continued listing (the "Minimum Public Holders Rule").
As previously reported, the Company had been notified by the Listing Qualifications Department of Nasdaq that it did not comply with the Minimum Public Holders Rule. Based on the Company's submissions to Nasdaq of shareholder records dated January 20, 2021, the Company had more than 300 public holders.
Also as previously reported, the Company has also been notified by Nasdaq that the Company no longer complies with Nasdaq Listing Rule 5620(a) due to the Company’s failure to hold an annual meeting of shareholders within twelve months of the end of the Company’s fiscal year ended December 31, 2019. The Company has submitted to Nasdaq a plan for compliance with the stockholder meeting rule.
About the Company
The Company is a blank check company, also commonly referred to as a Special Purpose Acquisition Company, or SPAC, formed for the purpose of acquiring, engaging in a share exchange, share reconstruction and amalgamation, purchasing all or substantially all of the assets of, entering into contractual arrangements, or engaging in any other similar business combination with one or more businesses or entities. ALAC’s efforts to identify a target business have not been limited to a particular industry or geographic region.
This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.