UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Item 8.01 Other Events.
On September 1, 2022, Mondee Holdings, Inc. (the “Company”) received formal notice that the Nasdaq Hearings Panel (the “Panel”) of The Nasdaq Stock Market, LLC (“Nasdaq”) granted the Company’s request for an extension to October 21, 2022 to evidence compliance with all initial listing rules as required under Nasdaq Listing Rule 5405(a) (the “Extension”).
As previously disclosed, on July 18, 2022, the Company received a letter from the Listing Qualifications Staff (the “Staff”) of Nasdaq notifying the Company that it was not in compliance with the requirements of IM-5101-2 because (i) the Company did not demonstrate that its shares of Class A common stock, par value $0.0001 (the “Common Stock”), complies with (a) the minimum 1,100,000 Unrestricted Publicly Held Shares requirement in Listing Rule 5405(a)(2) (the “Unrestricted Publicly Held Shares Requirement”) and (b) the minimum $20 million in Market Value of Unrestricted Publicly Held Shares requirement in Listing Rule 5405(b)(3)(B) (the “Market Value of Unrestricted Publicly Held Shares Requirement” and, together with the Unrestricted Publicly Held Shares Requirement, the “Exchange Requirements”) and (ii) the Company’s warrants do not qualify for initial listing since the security underlying the warrant, the Common Stock, does not qualify. The Company appealed Nasdaq’s determination pursuant to the procedures set forth in the Nasdaq Listing Rule 5800 Series and timely requested a hearing before the Panel on July 25, 2022, which took place on August 25, 2022.
The Extension has no effect on the listing of the Common Stock or the Company’s warrants, which will continue to trade on The Nasdaq Global Market under the symbol “MOND” and “MONDW,” respectively. The Company is working diligently to satisfy the Exchange Requirements in a timely manner, though there is no assurance that we will regain compliance on or before October 21, 2022 and, even if we do, that we will be able to maintain compliance.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| MONDEE HOLDINGS, INC. | ||
| Dated: September 6, 2022 | ||
| By: | /s/ Prasad Gundumogula | |
| Name: Prasad Gundumogula | ||
| Title: Chief Executive Officer | ||