Zapata Computing Holdings Inc.

10/18/2024 | Press release | Distributed by Public on 10/18/2024 14:32

Management Change/Compensation Form 8 K

Item 3.01.

Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On October 16, 2024, Zapata Computing Holdings Inc. (the "Company") received notice from the listing qualifications department staff (the "Staff") of The Nasdaq Stock Market ("Nasdaq") that, in view of the Company's disclosure in a Current Report on Form 8-K filed on October 11, 2024 that, on October 7, 2024, the board of directors of the Company approved cessation of the Company's operations and approved the termination of all of the Company's employees, except for a small number of employees to be retained for a short period to administer termination of business activities, the Staff believes the Company no longer has an operating business and is a "public shell". Therefore, in accordance with Listing Rule 5100, the Staff has determined to apply more stringent criteria to preserve and strengthen the quality and integrity of Nasdaq, and to protect prospective investors and the public interest. Accordingly, unless the Company timely requests an appeal, trading of the Company's common stock and warrants will be suspended at the opening of business on October 25, 2024 and a Form 25 Notification of Delisting will be filed with the Securities and Exchange Commission, which will remove the Company's securities from listing and registration on Nasdaq. The Company does not plan to appeal the Staff's determination.