Form 8-K - Current report
October 13 2023 - 3:05PM
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of
report (Date of earliest event reported): October 9, 2023
Monterey
Innovation Acquisition Corp.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction
of incorporation) |
001-40861
(Commission
File Number) |
85-2204842
(I.R.S. Employer
Identification No.) |
17 State Street
21st Floor
New York, NY
(Address of principal executive offices) |
10004
(Zip Code) |
(917) 267-0216
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b)
of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which
registered |
Units, each consisting of one share of Common Stock and one redeemable Warrant |
|
MTRYU |
|
The Nasdaq Stock Market LLC |
Common Stock, par value $0.0001 per share |
|
MTRY |
|
The Nasdaq Stock Market LLC |
Redeemable Warrants, each Warrant exercisable for one share of Common Stock at an exercise price of $11.50 per share |
|
MTYRW |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company x
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.
Item 3.01. Notice of Delisting or Failure to
Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On October 9, 2023, Monterey
Innovation Acquisition Corp. (the “Company”) received a written notice (the “Notice”) from the Listing Qualifications
Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company is not in compliance with Nasdaq Listing
Rule 5450(a)(2) (the “Minimum Total Holders Rule”), which requires the Company to have at least 400 total holders for continued
listing on the Nasdaq Global Market. The Notice is only a notification of deficiency, not of imminent delisting, and has no current effect
on the listing or trading of the Company’s securities on the Nasdaq Global Market.
The Notice states that the
Company has 45 calendar days, or until November 24, 2023, to submit a plan to regain compliance with the Minimum Total Holders Rule. The
Company currently intends to submit to Nasdaq a plan to regain compliance with the Minimum Total Holders Rule within the required timeframe.
If Nasdaq accepts the Company’s plan, Nasdaq may grant the Company an extension of up to 180 calendar days from the date of the
Notice, or until April 6, 2024, to evidence compliance with the Minimum Total Holders Rule. If Nasdaq does not accept the Company’s
plan, the Company will have the opportunity to appeal the decision to a Nasdaq Hearings Panel.
Forward-Looking Statements
This Current Report on Form
8-K includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities
Litigation Reform Act of 1995. Certain of these forward-looking statements can be identified by the use of words such as “believes,”
“expects,” “intends,” “plans,” “estimates,” “assumes,” “may,”
“should,” “will,” “seeks,” or other similar expressions. Such statements may include, but are not
limited to, statements regarding the Company’s intention to submit a plan to regain compliance with the Minimum Total Holders Rule
that is satisfactory to Nasdaq and the Company’s ability to evidence compliance with the Minimum Total Holders Rule within the required
timeframe. These statements are based on current expectations on the date of this Current Report on Form 8-K and involve a number of risks
and uncertainties that may cause actual results to differ significantly, including those risks set forth in the Company’s most recent
Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q and other documents filed with the U.S. Securities and Exchange
Commission (the “SEC”). Copies of such filings are available on the SEC’s website at www.sec.gov. The Company does not
assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise.
Readers are cautioned not to put undue reliance on forward-looking statements.
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
|
Monterey Innovation Acquisition
Corp. |
|
|
|
|
|
By: |
/s/ Murat Omur |
|
|
Name: |
Murat Omur |
|
|
Title: |
Chief Executive Officer |
Date: October 13, 2023
v3.23.3
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Oct. 09, 2023 |
Document Type |
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|
Document Period End Date |
Oct. 09, 2023
|
Entity File Number |
001-40861
|
Entity Registrant Name |
Monterey
Innovation Acquisition Corp.
|
Entity Central Index Key |
0001860663
|
Entity Tax Identification Number |
85-2204842
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
17 State Street
|
Entity Address, Address Line Two |
21st Floor
|
Entity Address, City or Town |
New York
|
Entity Address, State or Province |
NY
|
Entity Address, Postal Zip Code |
10004
|
City Area Code |
917
|
Local Phone Number |
267-0216
|
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Entity Emerging Growth Company |
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|
Elected Not To Use the Extended Transition Period |
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|
Units [Member] |
|
Title of 12(b) Security |
Units, each consisting of one share of Common Stock and one redeemable Warrant
|
Trading Symbol |
MTRYU
|
Security Exchange Name |
NASDAQ
|
Common Stock [Member] |
|
Title of 12(b) Security |
Common Stock, par value $0.0001 per share
|
Trading Symbol |
MTRY
|
Security Exchange Name |
NASDAQ
|
Redeemable Warrants [Member] |
|
Title of 12(b) Security |
Redeemable Warrants, each Warrant exercisable for one share of Common Stock at an exercise price of $11.50 per share
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Trading Symbol |
MTYRW
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Security Exchange Name |
NASDAQ
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