- Four Leaf Acquisition Corporation (FORL, Financial) has received notices for potential delisting from Nasdaq.
- Reasons for delisting include failure to file the 2024 Annual Report and non-payment of listing fees.
- FORL intends to appeal the delisting determinations to maintain its listing status.
Four Leaf Acquisition Corporation (FORL), a special purpose acquisition company, is facing the risk of being delisted from the Nasdaq Stock Market following two critical notifications. The initial notice, dated April 17, 2025, indicated the company's failure to submit its Annual Report on Form 10-K for the fiscal year ending December 31, 2024. A subsequent notice, issued on April 21, 2025, highlighted the non-payment of fees required under Nasdaq Listing Rule 5250(f).
Unless FORL successfully appeals these determinations, its securities will be delisted from The Nasdaq Capital Market. This would result in the suspension of trading of the company's common stock and the filing of a Form 25-NSE with the Securities and Exchange Commission (SEC), effectively removing the company's securities from listing and registration.
Despite these challenges, Four Leaf Acquisition Corporation has expressed its intention to appeal the delisting determinations under Nasdaq Listing Rule 5800 Series. This move aims to stay the suspension of its securities and the filing of Form 25-NSE pending a decision by the Nasdaq hearings panel.
Four Leaf Acquisition Corporation, led by Interim CEO Bala Padmakumar, is focused on combining with a target in the Internet of Things (IoT) market. The company believes there are multiple potential target companies that could emerge as attractive public entities.
