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Breeze Holdings Acquisition Corp., a special purpose acquisition company, has been notified of non-compliance with OTCQX market rules, putting its listing at risk. The notice, issued on Monday, states that Breeze Holdings does not meet the net tangible assets, revenue, or bid price requirements set by the OTC Markets Group.
The OTCQX Best Market, operated by OTC Markets Group Inc., requires listed companies to maintain certain financial standards. Breeze Holdings, which trades under the ticker BRZH, and its warrants, trading as BRZHW, are currently listed on the OTCQX tier.
According to the notice, Breeze Holdings must rectify its deficiency by June 13, 2025, to avoid its securities being moved from the OTCQX market. The company is actively engaged in a business combination with YD Biopharma Limited, which is expected to close before the June deadline. This merger is contingent upon the combined entity being listed on the NASDAQ Capital Markets at the time of closing.
Breeze Holdings’ current situation underscores the stringent regulatory requirements for maintaining a presence on prestigious trading platforms. The company’s efforts to align with the NASDAQ Capital Markets listing standards as part of its business combination strategy suggest a proactive approach to meeting investor and regulatory expectations.
The information in this article is based on a press release statement from the Securities and Exchange Commission filing by Breeze Holdings Acquisition Corp.
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