Roth CH Acquisition V Co. (NASDAQ:ROCL), an emerging growth company in the crude petroleum and natural gas industry, received a notice from Nasdaq on December 2, 2024, indicating non-compliance with listing rules. Specifically, the company failed to complete an initial business combination within the required 36 months following its initial public offering. As a result, the company's securities are subject to delisting from the Nasdaq Stock Market.
The notice detailed that the company's common stock (ROCL), warrants (ROCLW), and units (ROCLU) would be suspended from trading at the start of business today, with the company having the option to request a hearing before the Nasdaq Hearings Panel by December 9, 2024.
The company, headquartered in Newport Beach, California, is actively working to finalize a business combination with New Era Helium Inc., which they believe is close to completion. The leadership remains optimistic about the impending closure of this transaction.
This development comes as a significant event for Roth CH Acquisition V Co., which is incorporated in Delaware and operates under the organization name 01 Energy & Transportation. The company's fiscal year-end is December 31, and it is registered with the IRS under the number 861229207.
The information disclosed is based on a recent SEC filing, which serves as the source for this report. The company's management is expected to address the situation in accordance with regulatory guidelines and timelines. Investors and stakeholders await further announcements regarding the appeal process and the status of the proposed business combination with New Era Helium Inc.
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