Heartland Media Acquisition Corp. Receives Noncompliance Notice from NYSE
January 19 2023 - 4:15PM
Heartland Media Acquisition Corp. (NYSE: HMA.U) (the “Company”)
today announced that on January 12, 2023, the Company received a
notice letter (the “Notice”) from The New York Stock Exchange (the
“NYSE”) indicating that the Company is not currently in compliance
with the provision of Section 802.01B of the NYSE Listed Company
Manual requiring the Company to maintain a minimum of 300 public
stockholders on a continuous basis.
Pursuant to the Notice, the Company is subject to
the procedures set forth in Sections 801 and 802 of the NYSE Listed
Company Manual, and accordingly must submit to the NYSE within 45
days of receiving the Notice a business plan that demonstrates how
the Company expects to return to compliance with the minimum public
stockholders requirement within 18 months of receiving the Notice.
The Company intends to submit such a business plan to the NYSE by
the required deadline to regain compliance with the minimum public
stockholders requirement within the required timeframe.
The Company’s business plan will be reviewed by the
Listings Operations Committee (the “Committee”) of the NYSE. If the
Committee accepts the plan, the Company will be subject to
quarterly monitoring for compliance with the plan. If the Committee
does not accept the plan, the Company will be subject to suspension
and delisting procedures.
During such time as the Company is deemed
noncompliant with the minimum public stockholders requirement, the
Company’s Class A common stock, warrants, and units will bear the
indicator “.BC” on the consolidated tape to indicate noncompliance
with the NYSE’s quantitative continued listing standards.
The Notice and the procedures described above have
no current effect on the continued listing of the Company’s
securities on the NYSE, subject to the Company’s compliance with
the NYSE’s other applicable continued listing requirements.
About Heartland Media Acquisition
Corp.
Heartland Media Acquisition Corp. is a blank-check
company formed for the purpose of effecting a merger, capital stock
exchange, asset acquisition, stock purchase, reorganization or
similar business combination with one or more businesses. The
Company intends to focus on businesses in the media, entertainment
and sports sectors.
Forward-Looking Statements
This press release may contain “forward-looking
statements,” including with respect to our search for an initial
business combination and the financing thereof, and related
matters. These forward-looking statements relate to expectations or
forecasts concerning future events. Words such as “anticipate,”
“believe,” “continue,” “could,” “estimate,” “expect,” “intend,”
“may,” “might,” “plan,” “possible,” “potential,” “predict,”
“project,” “should,” “would” and similar expressions, as they
relate to the Company or its management team, identify
forward-looking statements. Such forward-looking statements are
based on the beliefs of, assumptions made by, and information
currently available to, the Company’s management. Actual results
could differ materially from those contemplated by the
forward-looking statements as a result of certain factors,
including the Company’s ability to submit to the NYSE a
satisfactory business plan to regain compliance with the NYSE’s
continued listing standards; the Company’s ability to evidence that
it has at least 300 public stockholders; and other factors detailed
in the Company’s reports filed with the Securities and Exchange
Commission. The Company undertakes no obligation to update these
statements for revisions or changes after the date of this press
release, except as required by law.
Contact
Robert S. Prather, Jr.Heartland Media Acquisition
Corp.(470) 355-1944info@heartlandmediaacquisition.com
Heartland Media Acquisit... (NYSE:HMA.WS)
Historical Stock Chart
From Aug 2024 to Sep 2024
Heartland Media Acquisit... (NYSE:HMA.WS)
Historical Stock Chart
From Sep 2023 to Sep 2024