Scienjoy to Delist Warrants From Nasdaq on June 2, 2020 Over Holder Count
Scienjoy Holding received a Nasdaq notice that its warrants lack the required 100 round lot holders following its May 7, 2020 business combination with Scienjoy Inc. The company does not intend to appeal, so the warrants will be suspended on June 2, 2020 and removed from Nasdaq, though their exercise terms are unchanged and the ordinary shares (SJ) remain listed.
- Nasdaq notice dated May 22, 2020 cited lack of at least 100 round lot warrant holders under Listing Rule 5515(a)(4)
- Company does not intend to appeal; warrants suspended at market open on June 2, 2020
- Warrants expected to trade on OTC Markets Group after delisting
- Warrant terms unchanged; ordinary shares under symbol SJ on Nasdaq Capital Market are not affected