Nasdaq Flags Pantages Capital Acquisition for Missing $50M MVLS Threshold
PGAC is trading near its 52-week low of $9.89 (8.1% above the low) on light trading volume (0.2× avg).
Summary
Nasdaq notified Pantages Capital Acquisition that its listed securities fell below the $50M MVLS minimum, giving the company until February 17, 2027 to regain compliance or face delisting.
Key Events · Legal and Risk Events · PGAC
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Nasdaq MVLS Deficiency Notice
Received August 21, 2026, after 30 consecutive business days below the $50M minimum market value of listed securities under Nasdaq Listing Rule 5450(b)(2)(A).
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Compliance Deadline Set
Company has 180 calendar days, until February 17, 2027, to regain compliance by maintaining at least $50M MVLS for 10 consecutive business days.
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Additional Listing Rule Failure
Nasdaq also indicated the company does not meet Listing Rule 5450(b)(3)(A), compounding the listing deficiency.
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Precarious Financial Position
Follows the August 14 10-Q disclosing a material weakness in internal controls, a missed $60,000 extension payment, and only $352 in cash.
Analysis · PGAC · Real Estate & Construction
A Nasdaq deficiency notice landed on August 21, 2026, after Pantages Capital Acquisition's market value of listed securities stayed below the $50 million minimum for 30 consecutive business days. The company now has until February 17, 2027 to regain compliance. This adds to an already fragile position: the August 14 10-Q disclosed a material weakness in internal controls, a missed $60,000 extension payment, and only $352 in cash. A delisting would severely impair liquidity and the SPAC's ability to complete a business combination before its June 2027 deadline.
How filings like this one have moved
In the 30 days to Aug 24, 2026, 44% of the 972 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.11%. 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 $10.69 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 9 out of 10.