Rain Enhancement Technologies Holdco, Inc. received a delisting notice from Nasdaq due to non-compliance with market value requirements.
The company has until August 26, 2025, to appeal the delisting determination.
A hearing request has been submitted to seek additional time for compliance.
Market Value Requirements
Nasdaq requires a market value of listed securities of at least $50 million and a market value of publicly held shares of at least $15 million.
Appeal Process
The company has requested a hearing from the Nasdaq Hearing Panel to avoid suspension and delisting before August 28, 2025.
Compliance Plan
Rain Enhancement Technologies Holdco, Inc. intends to present a plan at the hearing to achieve compliance with Nasdaq listing criteria.
- The delisting notice raises concerns about the company's financial standing and compliance with Nasdaq regulations.
- The appeal process will determine whether the company can maintain its listing on the Nasdaq Global Market.
The outcome of the appeal and the company's compliance plan will impact its market position and investor confidence in the coming days.