Federal Register #SR-NASDAQ-2026-033

SEC Notice: Nasdaq Proposes Higher Listing Standards for Acquisition Companies

This notice from the Securities and Exchange Commission (SEC) announces a proposed rule change by The Nasdaq Stock Market LLC regarding initial listing requirements for acquisition companies. - Government Buyer: - Securities and Exchange Commission (SEC) - OEM/Vendor Mentioned: - The Nasdaq Stock Market LLC - Key Details of the Proposed Rule Change: - Increases the minimum market value of listed securities for acquisition companies on the Nasdaq Global Market to at least $100 million - Establishes new requirements for acquisition companies on the Nasdaq Capital Market: - Minimum market value of listed securities: $75 million - Minimum market value of unrestricted publicly held shares: $20 million - At least four registered and active market makers - Aims to protect investors, ensure sufficient public float, investor base, and liquidity - Aligns Nasdaq's requirements with those of the NYSE and NYSE American - No products or services are being procured; this is a regulatory notice - Public comments are invited on the proposed rule change

Description

The Nasdaq Stock Market LLC has filed a proposed rule change to modify certain initial listing requirements for acquisition companies. The proposal includes increasing the minimum market value of listed securities for acquisition companies listing on the Nasdaq Global Market to at least $100 million and establishing new listing requirements for acquisition companies on the Nasdaq Capital Market. The changes aim to protect investors and ensure sufficient public float, investor base, and liquidity. The rule change is effective immediately and comments are invited by May 18, 2026.

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