Four Leaf Acquisition Faces Nasdaq Delisting Threat Over Reporting Delay

Four Leaf Acquisition (FORL) faces Nasdaq delisting due to failure to file its Annual Report on Form 10-K for FY24. The company has the option to appeal the decision and must act timely to contest the determination. If not, a Form 25-NSE will be submitted to the SEC, removing FORL's securities from Nasdaq's listing and registration. The company is evaluating its options to maintain Nasdaq listing.

Four Leaf Acquisition Corporation (FORL), a special purpose acquisition company, has received notices for potential delisting from the Nasdaq Stock Market. The company is facing two critical determinations: failure to file its 2024 Annual Report on Form 10-K and non-payment of listing fees [1].

The first notice, dated April 17, 2025, highlighted FORL's failure to submit its Annual Report. A subsequent notice, issued on April 21, 2025, pointed out 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, resulting in the suspension of trading 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 [1].

FORL 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. The company, led by Interim CEO Bala Padmakumar, is focused on combining with a target in the Internet of Things (IoT) market and believes there are multiple potential target companies that could emerge as attractive public entities [1].

References:
[1] https://www.gurufocus.com/news/2799470/four-leaf-acquisition-corporation-announces-receipt-of-nasdaq-delisting-determinations-forl-stock-news