Nasdaq to Delist Securities of 12 Companies

The Nasdaq Stock Market announced the delisting of several securities, including Blue Star Foods Corp., Altamira Therapeutics Ltd., Fresh2 Group Limited, Coliseum Acquisition Corp., The Real Good Food Company, Inc., Mynaric AG, byNordic Acquisition Corporation, Avinger Inc., MultiMetaVerse Holdings Limited, Nature's Miracle Holding Inc., and SPI Energy Co., Ltd., due to suspended trading on December 20, 2024, or later.

The Nasdaq Stock Market has announced the delisting of securities from 12 companies that were previously suspended from trading. The affected companies include Blue Star Foods Corp., Altamira Therapeutics Ltd., Fresh2 Group Limited, Coliseum Acquisition Corp., The Real Good Food Company, Inc., Mynaric AG, byNordic Acquisition Corporation, Avinger Inc., MultiMetaVerse Holdings Limited, Nature's Miracle Holding Inc., and SPI Energy Co., Ltd. [2]

The suspensions occurred between December 20, 2024, and February 18, 2025, and none of these securities have traded on Nasdaq since their respective suspension dates. The delistings affect various types of securities including common stocks, American Depositary Shares, Class A Ordinary Shares, warrants, and units.

Nasdaq's mass delisting of 12 companies signals severe compliance issues after extended trading suspensions, creating liquidity challenges for affected shareholders. This mass delisting announcement represents a significant regulatory action by Nasdaq affecting 12 distinct companies whose securities have been suspended from trading for extended periods (between 4-6 months). The affected companies span multiple sectors including food (Blue Star Foods, Real Good Food, Fresh2 Group), healthcare (Altamira Therapeutics, Avinger), energy (SPI Energy), technology (MultiMetaVerse, Mynaric), and several SPACs or acquisition vehicles (Coliseum, byNordic, Evergreen).

What's particularly notable is that all these securities had already been suspended from trading for substantial periods before this formal delisting announcement. This pattern suggests these companies likely failed to meet continued listing requirements and either couldn't or chose not to remedy their compliance issues during their suspension periods.

For shareholders of these companies, this delisting creates significant complications. Their holdings will likely move to the OTC (over-the-counter) markets, which typically results in reduced liquidity, wider bid-ask spreads, less regulatory oversight, and often lower valuations. Institutional investors may be forced to sell these positions due to investment mandate restrictions against holding non-exchange listed securities.

The clustering of these delistings indicates Nasdaq is potentially clearing its regulatory backlog of non-compliant issuers. While each company likely had unique compliance issues (whether financial reporting deficiencies, minimum bid price failures, or governance concerns), the formal delisting action suggests Nasdaq has determined these companies cannot reasonably return to compliance in the near term.

References:
[1] https://www.nasdaq.com/market-activity/stocks/issuers-pending-suspension-delisting
[2] https://www.stocktitan.net/news/NDAQ/delisting-of-securities-of-blue-star-foods-corp-altamira-8vn54gv2vmfp.html