Hennessy Capital Investment Corp. VI Faces Potential Delisting from Nasdaq Amid Market Value Deficiency

Hennessy Capital Investment Corp. VI recently disclosed that it had received a deficiency letter from the Nasdaq Stock Market LLC on November 19, 2024. The letter, issued by the Listing Qualifications Department, highlighted that for the preceding 30 consecutive business days, the Company’s Market Value of Listed Securities (MVLS) had fallen below the $50 million minimum requirement prescribed under Nasdaq Listing Rule 5450(b)(2).

Despite this notification, Hennessy Capital Investment Corp. VI’s Nasdaq listing remains unaffected for the time being. Under Nasdaq regulations, the company has been granted an initial 180-day period, ending on May 19, 2025 (referred to as the “Compliance Date”), to rectify the MVLS deficiency. To meet this requirement, the company’s MVLS must attain or exceed $50 million for at least 10 consecutive business days leading up to the Compliance Date.

Hennessy Capital Investment Corp. VI anticipates resolving the MVLS shortfall through the successful execution of its previously announced business combination with Greenstone Corporation. However, should the company fail to regain compliance either through the completion of the Business Combination or by alternative means by the Compliance Date, a written notice of potential delisting from Nasdaq will be issued by the Staff.

In the event of a delisting notice, Hennessy Capital Investment Corp. VI retains the option to challenge the decision through an appeal process before a hearings panel. Despite this avenue for appeal, there is no guarantee of a successful outcome following the receipt of a delisting notice and subsequent appeal.

The Form 8-K filing with the Securities and Exchange Commission also included the signature of Nicholas Geeza, Executive Vice President, Chief Financial Officer, and Secretary of Hennessy Capital Investment Corp. VI, dated November 20, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Hennessy Capital Investment Corp. VI’s 8K filing here.

Hennessy Capital Investment Corp. VI Company Profile

Hennessy Capital Investment Corp. VI does not have significant operations. The company intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It focuses its search for a target business in the industrial technology sector.