RF Acquisition Corp. Receives Nasdaq Notification Regarding Minimum Market Value Deficiency
WILMINGTON, Del., June 15, 2023 (GLOBE NEWSWIRE) — RF Acquisition Corp. (NASDAQ:RFACU, RFAC, RFACW, RFACR) (the “Company”) announced today that it received a written notification (the “Notice”) from the Nasdaq Stock Market LLC (“Nasdaq”) dated June 9, 2023, notifying the Company that it is not in compliance with the minimum Market Value of Listed Securities (“MVLS”) requirement set forth in Nasdaq Listing Rules for continued listing on The Nasdaq Global Market. Nasdaq Listing Rule 5450(b)(2)(A) requires companies to maintain a minimum MVLS of $50 million (the “Market Value Standard”) and Nasdaq Listing Rule 5810(c)(3)(C) provides that a failure to meet the minimum MVLS requirement exists if the deficiency continues for a period of 30 consecutive business days. Based on the MVLS of the Company from April 26, 2023 to June 8, 2023, the Company did not meet the minimum MVLS requirement.