Bullish indicating open at $55-$60, IPO prices at $37
AlphaTime Acquisition Corp, a blank check company, received a notice from The Nasdaq Stock Market LLC on April 17, 2025, indicating that the company’s securities are at risk of delisting. The notice was issued because AlphaTime’s ordinary shares failed to maintain the minimum Market Value of Listed Securities (MVLS) of $50 million required for continued listing on The Nasdaq Global Market for the past 30 consecutive business days. According to InvestingPro data, the company’s current market capitalization stands at approximately $40.28 million, with a stock price of $11.89.
The company, which is listed under the ticker ATMC and includes units (ATMCU), warrants (ATMCW), and rights (ATMCR), now has a compliance period of 180 days, until October 14, 2025, to address the deficiency. During this period, AlphaTime must see its MVLS close at or above $50 million for at least 10 consecutive business days. InvestingPro analysis reveals concerning metrics, including a current ratio of 0.01 and short-term obligations exceeding liquid assets, which could complicate the company’s path to compliance.
If AlphaTime does not achieve compliance within this timeframe, Nasdaq will notify the company of its securities being subject to delisting. The company can appeal this decision to a Nasdaq Listing Qualifications Panel, but there is no guarantee of a successful outcome. Alternatively, AlphaTime may seek to transfer its listing to The Nasdaq Capital Market if it meets the exchange’s continued listing requirements and pays an application fee.
The company has stated its intention to actively monitor its MVLS and explore options to regain compliance with Nasdaq’s listing requirements. However, there is no assurance that AlphaTime will be able to resolve the issue and meet the MVLS requirement or other Nasdaq listing rules in the future.
This information is based on a press release statement and reflects the company’s current situation regarding its Nasdaq listing status. It is important for investors to be aware of these developments as they may impact the company’s stock performance and market presence. InvestingPro subscribers have access to additional insights, including 8 more key tips and comprehensive financial health metrics, which currently show a FAIR overall score of 2.21 for AlphaTime.
In other recent news, AlphaTime Acquisition Corp has announced a change in its executive leadership. The company’s Chief Executive Officer, Dajiang Guo, has resigned due to personal reasons, with no disagreements cited regarding company operations or policies. Following Guo’s departure, Gan Kim Hai has been appointed as the new CEO and a director. Hai has been part of AlphaTime’s Risesun Group since 2016, focusing on business development and market expansion. Additionally, AlphaTime Acquisition Corp has received an extension from Nasdaq to comply with the minimum public holder requirement. The company was initially notified of its non-compliance on November 29, 2024, and has until May 28, 2025, to meet the requirement. AlphaTime submitted a compliance plan on January 16, 2025, and Nasdaq responded positively, allowing more time to address the issue. The company aims to maintain its listing status and has outlined strategies for future compliance in its SEC filings.
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