Southport Acquisition Corp. Faces Delisting and Potential Nasdaq Move

Southport Acquisition Corp. Class A (PORT) has shared an announcement.

Southport Acquisition Corporation is facing delisting from the NYSE after failing to meet the required market capitalization standard. The company’s common stock, warrants, and units will be suspended from trading on the exchange and expected to move to over-the-counter trading the following day. With a deadline to complete an initial business combination by December 14, 2024, Southport Acquisition Corporation is exploring a potential listing on the Nasdaq Stock Market, though there are no guarantees this will occur. If the company fails to merge by the deadline, it will redeem public shares, effectively ending stockholders’ rights.

See more data about PORT stock on TipRanks’ Stock Analysis page.