GREENWICH, Conn., Oct. 2, 2023
/PRNewswire/ -- Aetherium Acquisition Corp ("Company") (Nasdaq:
"GMFI") today announced, as expected, that on August 23, 2023, the Company received an
additional delinquency notification letter from the Listing
Qualifications Staff (the "Staff") of The Nasdaq Stock Market LLC
relating to the Company's continued non-compliance with Nasdaq
Listing Rule 5250(c)(1), (the "Rule") as a result of the Company's
failure to timely file its Quarterly Report on Form 10-Q for the
Quarter-Ended March 31, 2023, and
June 30, 2023.
The Notice has no immediate effect on the listing or trading of
the Company's common stock on the Nasdaq Global Market. As
previously disclosed, the Company earlier received notice from the
Staff regarding its non-compliance with the Rule following the
Company's delay in the filing of its Quarterly Report on Form 10-Q
for the Quarter-Ended March 31, 2023.
On July 24 2023, the Company
submitted a plan to regain compliance with Listing Rule 5250(c)(1)
by becoming current in its obligations to file periodic financial
reports ("Submission"). On August 8,
2023, the Company received notice from Nasdaq that based on
the Submission, the Company was granted the extension until
November 20, 2023 to regain
compliance with Nasdaq's continued listing rule as it relates to
the untimely filings. As a result of this additional delinquency,
the Company has submitted an update to Nasdaq which indicates the
Company's plan to remedy all delinquent filings and has indicated
the progress the Company has made towards implementing the plan
contained in its update. If the Company does not regain compliance
by November 20, 2023, the Company may
appeal the relevant delisting determination to a hearings panel
pursuant to the procedures set forth in the applicable Nasdaq
Listing Rules.
The Company's management continues to work diligently to
complete the Form 10-Qs and regain compliance with Listing Rule
5250(c)(1). If it is unable to become compliant by November 20,
2023, the Company will file an appeal pursuant to the procedures
set forth in the applicable Nasdaq Listing Rules.
About GMFI
The Company is a blank check company, also commonly referred to
as a special purpose acquisition company, or SPAC, formed for the
purpose of effecting a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization or other similar
business combination with one or more businesses. The Company's
efforts to identify a prospective target business will not be
limited to a particular business, industry, sector or geographical
region. The Company is led by Jonathan
Chan, the Company's Chairman of the Board and Chief
Executive Officer, and Alex Lee, the
Company's Chief Financial Officer.
Forward-Looking Statements
Certain matters discussed in this Press Release constitute
forward-looking statements within the meaning of Section 21E of the
Securities Exchange Act of 1934, as amended, and the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking
statements involve many risks and uncertainties that could cause
actual results to differ materially from those expressed or implied
by such statements. These forward-looking statements speak only as
of the date hereof, and the Company expressly disclaims any
obligation or undertaking to disseminate any updates or revisions
to any forward-looking statement contained herein to reflect any
change in its expectations with regard thereto or any change in
events, conditions or circumstances on which any such statement is
based. Please refer to the publicly filed documents of the Company,
including its most recent Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q, for risks and uncertainties related to the
Company's business which may affect
the statements made in this Press Release.
Jonathan Chan
Aetherium Acquisition Corp
+1 650-450-6836
info@aetheriumcapital.com
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SOURCE Aetherium Acquisition Corp