NYSE American to Suspend Trading Immediately in Adara Acquisition Corp. (ADRA) and Commence Delisting Proceedings
NYSE American LLC ("NYSE American" or the "Exchange") announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the three securities enumerated below ("Securities") of Adara Acquisition Corp. (the "Company") from NYSE American. Trading in the Company's Securities will be suspended immediately.
Symbol |
Description |
ADRA |
Class A Common Stock, par value $0.0001 per share |
ADRA.U |
Units, each consisting of one share of Class A Common Stock and one-half of one Redeemable Warrant |
ADRA WS |
Warrants, each exercisable for one share Class A Common Stock for $11.50 per share |
NYSE Regulation reached its decision to delist the Company's Securities pursuant to Section 119(f) of the NYSE American Company Guide because the Company failed to satisfy the requirements for initial listing following a business combination.
The Company has a right to a review of staff's determination to delist the Securities by a Committee of the Board of Directors of the Exchange. The NYSE American will apply to the Securities and Exchange Commission to delist the Company's Securities upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff's decision.
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