Scienjoy Warrants to Be Delisted From Nasdaq; Ordinary Shares Unaffected
Scienjoy Holding Corporation received a Nasdaq notice that its warrants did not meet the round lot holder requirement after its May 7, 2020 business combination with Scienjoy Inc. The company did not appeal, and Nasdaq will delist the warrants, which now trade on the OTCQB; the company says the warrant terms are unchanged, while its ordinary shares continue to trade on the Nasdaq Capital Market under "SJ."
- Nasdaq found the warrants lacked at least 100 round lot holders, as required by Listing Rule 5515(a)(4), after the May 7, 2020 business combination.
- The company did not appeal; Nasdaq announced the warrant delisting on June 8, 2020 and filed Form 25 on June 9, 2020.
- Warrants trade on the OTCQB under "SJOYW" after Nasdaq trading was suspended on June 2, 2020.
- Warrant terms are not affected and the warrants can still be exercised for ordinary shares; the ordinary shares are not affected.