NorthView Acquisition Faces Nasdaq Delisting Over Business Combination Failure

Deal News | Dec 26, 2024 | EIN

NorthView Acquisition Faces Nasdaq Delisting Over Business Combination Failure

NorthView Acquisition Corporation has received a Notice from Nasdaq indicating that its securities will be delisted due to the company's failure to complete an initial business combination within the specified 36 months since its IPO registration. The delisting will result in the suspension of trading for NorthView's stocks, rights, and warrants starting December 27, 2024. In response, the company will not appeal the decision but plans to list its securities on the OTC market with the same ticker symbols. Despite the delisting, NorthView's merger with Profusa Inc. remains unaffected, and the parties are actively working towards completing the business combination. The merged entity intends to apply for Nasdaq listing post-merger. NorthView will continue to operate as a reporting entity under the Securities Exchange Act with ongoing disclosure obligations of its financial and operational data.

Sectors

  • Financial Services
  • Healthcare
  • Capital Markets

Geography

  • United States – NorthView Acquisition Corporation and its activities, including the delisting from the Nasdaq Stock Market and compliance with SEC regulations, are based in the United States.

Industry

  • Financial Services – Relates to NorthView Acquisition, which is a special purpose acquisition company involved in merger and acquisition activities.
  • Healthcare – Profusa Inc. is involved in this sector, as mentioned in the ongoing business combination with NorthView Acquisition Corporation.
  • Capital Markets – Relevant due to the delisting process on Nasdaq and potential future listing activities of the merged entity.

Financials

    Participants

    NameRoleTypeDescription
    NorthView Acquisition CorporationTarget CompanyCompanyA special purpose acquisition company aimed at merging with one or more businesses.
    NasdaqStock ExchangeCompanyThe stock exchange responsible for the delisting notice to NorthView Acquisition Corporation.
    Profusa Inc.Merger PartnerCompanyThe company involved in the ongoing business combination with NorthView Acquisition Corporation.
    Securities and Exchange Commission (SEC)Regulatory AuthorityGovernmentU.S government agency regulating securities markets, involved in the delisting process.