Origo Acquisition Corporation (NASDAQ:OACQ) Files An 8-K Other EventsItem 8.01 Other Information.
On October 23, 2017, Origo Acquisition Corporation (the “Company”) received formal notification from The NASDAQ Stock Market LLC (“Nasdaq”) that the Nasdaq Hearings Panel (the “Panel”) had determined to grant the Company’s request for the continued listing of its securities on The Nasdaq Capital Market, to an extension through February 19, 2018 to complete its proposed merger with Hightimes Holding Corp. and, in connection therewith, to evidence compliance with all applicable requirements for the continued listing of the combined company’s securities on Nasdaq, post-merger (including, notably, Nasdaq Listing Rule 5550(a)(3), which requires the Company to have at least 300 public holders for continued listing on the Nasdaq Capital Market the “Minimum Public Holders Rule”)). In its notification, the Panel indicated that February 19, 2018 constitutes the full extent of the Panel’s discretion in this matter. The Company is taking definitive steps to timely evidence compliance with the terms of the Panel’s decision (including the Minimum Public Holders Rule); however, there can be no assurances given that it will be able to do so.
As previously disclosed, on August 23, 2017, the Company received written notice from the Nasdaq Listing Qualifications Staff (the “Staff”) indicating that, due to the Company’s continued non-compliance with the Minimum Public Holders Rule, the Staff had determined to delist the Company’s securities from Nasdaq unless the Company timely requested a hearing before the Panel. The Company did timely request a hearing before the Panel, which took place on October 12, 2017, and the Panel’s decision will allow the Company’s securities to remain listed on Nasdaq through February 19, 2018.