Inspirato Inc.

12/01/2023 | Press release | Distributed by Public on 12/01/2023 15:31

Failure to Satisfy Listing Rule - Form 8-K

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On November 27, 2023, Inspirato Incorporated ("Inspirato" or the "Company") received a notice (the "Notice") from the Listing Qualifications Department of The Nasdaq Stock Market ("Nasdaq") that the Company did not meet the $15,000,000 minimum market value of publicly held shares required to maintain continued listing as set forth in Nasdaq's Listing Rule 5450(b)(2)(C) (the "MVPHS Rule") for the 30-business day period ended November 20, 2023. The Notice has no immediate effect on the listing or trading of the Company's Class A Common Stock or warrants on the Nasdaq Global Market.

Under applicable Nasdaq rules, the Company will have 180 calendar days (the "Compliance Period") from the date of the Notice, or until May 28, 2024, to regain compliance by meeting the continued listing requirements. Specifically, the market value of the Company's publicly held shares must close at $15,000,000 or more for a minimum of 10 consecutive business days. The Company is currently evaluating various courses of action to regain compliance with the MVPHS Rule. If the Company is unable to regain compliance with the MVPHS Rule by May 28, 2024, the Company will receive written notification from Nasdaq that the Company's securities are subject to delisting. The Company may, at that time, request a hearing to appeal the delisting determination, which appeal will ordinarily suspend such delisting determination until a decision is issued by Nasdaq subsequent to the hearing. There can be no assurance that any such appeal would be successful.