UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
March 8, 2023
Date of Report (Date of earliest event reported)
Greencity Acquisition Corporation
(Exact name of registrant as specified in its charter)
| Cayman Islands | | 001-39404 | | n/a |
(State or other jurisdiction
of incorporation) | | (Commission File Number) | | (I.R.S. Employer
Identification No.) |
505 Eshan Road, Floor 6, Pudong New District, Shanghai, China | | 200120 |
| (Address of principal executive offices) | | (Zip Code) |
Registrant’s telephone number, including area code: (+86) 21-20257919
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company x
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | | Trading Symbol(s) | | Name of each exchange on which registered |
| Units, each consisting of one ordinary share, par value $0.001, one redeemable warrant to purchase one-half ordinary share | | GRCYU | | The Nasdaq Stock Market LLC |
| Ordinary Share | | GRCY | | The Nasdaq Stock Market LLC |
| Redeemable warrants, each warrant exercisable for one-half ordinary share | | GRCYW | | The Nasdaq Stock Market LLC |
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On March 8, 2023, the Company received a notice (the “Notice”) from the Listing Qualifications Department of the Nasdaq Stock Market (“Nasdaq”) stating that the Company was not in compliance with Listing Rule 5550(a)(4) (the “Minimum Publicly Held Shares Rule”), which requires the Company to have at least 500,000 Publicly Held Shares for continued listing on the NASDAQ Capital Market. The Notice is only a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of the Company’s securities on the Nasdaq Capital Market.
The Notice states that the Company has until April 24, 2023 to submit a plan to achieve and sustain compliance with the Minimum Publicly Held Shares Rule. The Company intends to submit a plan to achieve and sustain compliance with the Minimum Publicly Held Shares Rule within the required timeframe. After reviewing the plan, Nasdaq will provide the Company a written notice of Nasdaq’s decision. If Nasdaq does not accept the Company’s plan, the Company will have the opportunity to appeal the decision in front of a Nasdaq Hearings Panel.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report on Form 8-K to be signed on its behalf as of March 10, 2023 by the undersigned hereunto duly authorized.
| | Greencity Acquisition Corporation |
| | | |
| | By: | /s/ Jinlong Liu |
| | | Jinlong Liu |
| | | Chief Executive Officer |
