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Technology & Telecommunication Acquisition Corporation (NASDAQ:TETE), a special purpose acquisition company, has been notified by the NASDAQ Stock Market LLC of non-compliance with continued listing rules due to the absence of an annual shareholder meeting within the stipulated timeframe.
The company, which trades under the ticker symbols TETEU for its units, TETE for its ordinary shares, and TETEW for its redeemable warrants, received the notice on Monday, citing a breach of Listing Rules 5620(a) and 5810(c)(2)(G). This situation does not immediately impact the company's listing on the Nasdaq Global Market.
The notice grants Technology & Telecommunication Acquisition Corp. a 45-day period, until approximately late January 2025, to submit a plan to regain compliance. If the plan is accepted, NASDAQ may offer an extension of up to 180 calendar days from the fiscal year-end, or until May 29, 2025, for the company to meet the listing requirements.
The company, headquartered in Kuala Lumpur, Malaysia, with principal executive offices in Miami, FL, is working on scheduling its annual meeting within the coming weeks to adhere to NASDAQ's requirements.
The news above is based on an SEC filing.
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