AlphaTime Acquisition Corp. faces potential delisting from the Nasdaq Stock Market due to non-compliance with the Nasdaq Listing Rule 5450(a)(2), which requires a minimum of 400 public holders. Despite submitting a compliance plan and receiving an extension until May 28, 2025, the company failed to meet the requirement. As a result, Nasdaq has scheduled the company's securities for delisting, with trading suspension set for June 12, 2025. AlphaTime intends to appeal this decision by requesting a hearing with the Nasdaq Hearings Panel. There is no guarantee the appeal will be successful or that the company will meet the listing requirements in the future.
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