Nasdaq Adds Second Listing Deficiency: Pantages Falls Below 400 Total Holders
PGAC is trading near its 52-week low of $9.89 (8.3% above the low).
Summary
Pantages Capital Acquisition Corp received a new Nasdaq deficiency notice for falling below the 400 total holders minimum, adding to its existing MVLS deficiency. The company must submit a compliance plan by October 19, 2026.
Key Events · Legal and Risk Events · PGAC
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Second Nasdaq Deficiency Notice
Nasdaq notified the company on September 2, 2026 that it fails the Minimum Total Holders Requirement of 400 holders under Listing Rule 5450(a)(2).
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Compliance Plan Deadline
The company must submit a plan to regain compliance by October 19, 2026; if accepted, Nasdaq may grant up to 180 days to evidence compliance.
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Compounding Listing Risks
This new deficiency adds to the existing MVLS deficiency disclosed on August 24, 2026, increasing the risk of delisting from the Nasdaq Global Market.
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Financial Distress Context
The company reported only $352 in cash and a material weakness in internal controls in its August 14, 2026 10-Q, heightening going-concern risks.
Analysis · PGAC · Real Estate & Construction
Pantages Capital Acquisition Corp received a second Nasdaq deficiency notice on September 2, 2026, this time for failing to maintain at least 400 total holders under Listing Rule 5450(a)(2). This compounds the existing MVLS deficiency disclosed on August 24, 2026. The company must submit a compliance plan by October 19, 2026, and Nasdaq may grant up to 180 days to regain compliance. With only $352 in cash and a material weakness in internal controls per the last 10-Q, the company faces mounting listing and going-concern risks.
How filings like this one have moved
In the 30 days to Sep 10, 2026, 35.7% of the 1872 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.01%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, PGAC was trading at $10.71 on NASDAQ in the Real Estate & Construction sector, with a market capitalization of approximately $31.9M. The 52-week trading range was $9.89 to $11.39. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.