WEST HOLLYWOOD, Calif., Aug. 24, 2023 (GLOBE NEWSWIRE) — Bannix Acquisition Corp. (NASDAQ: BNIX) (“Bannix” or the “Company”)a blank check company formed for the purpose of a merger, share swap, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, announces receipt of letter from the Listing Eligibility Committee dated August 22, 2023 Nasdaq Equity Markets (“Nasdaq”) notifies the company that it is not in compliance with NASDAQ Listing Rule 5250(c)(1) for continued listing because Nasdaq has not received the company’s Quarterly Report on Form 10-Q for the period ended June 30, 2023 (“Form 10-Q”).
Nasdaq notified the company that it has 60 days from the date of the letter to submit a plan to restore compliance with the delinquent report. If Nasdaq approves a company’s plan, it may, at its discretion, grant the company an extension of up to 180 calendar days from the Form 10-Q due date, or until February 12, 2024, to regain compliance.
The company is working to complete the Form 10-Q. If the company is unable to file Form 10-Q by October 22, 2023, it intends to file a plan to regain compliance with Nasdaq. The notice will not immediately affect the listing of the company’s securities on Nasdaq. However, there can be no assurance that the company will be able to file a Form 10-Q, regain compliance with the above listing requirements, or meet other Nasdaq listing criteria before October 22, 2023.
About Bannix Acquisition Corp.
Bannix Acquisition Corp. is a blank check corporation established for the purpose of merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.
This press release contains statements that constitute “forward-looking statements,” including statements regarding the Company’s plans to file Form 10-Q and to revise its prior filings with the SEC, including restatements of certain consolidated financial statements contained therein. These forward-looking statements are based on our current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that could cause our actual results, levels of activity, performance or achievements to differ from any expressed or expressed Material differences in future results, levels of activity, performance or achievements. implied by such forward-looking statements. In some cases, you can identify by terms such as “is working”, “may”, “should”, “could”, “would”, “expect”, “plan”, “anticipate”, “believe” Forward-Looking Statements. ,” “estimate,” “continue,” or the negative of such terms or other similar expressions. Factors that could cause or contribute to such differences include, but are not limited to, those described in our filings with the SEC. Copies of these filings are available Available on the SEC website at www.sec.gov The company undertakes no obligation to update these statements with revisions or changes after the date of this press release, except as required by law.
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