the rule
Nasdaq Capital Market
the rule
Phase-in Period
Under the proposed rule, a newly-listed company that was not previously subject to a substantially similar requirement of another national securities exchange would be allowed one year from the date of listing to satisfy the requirements. This “phase-in” period would apply to companies listing in connection with an initial public offering, a direct listing, a transfer from another exchange or the over-the-counter market, or through a business combination with certain acquisition companies (SPACs). Such companies would effectively have until the later of the general transition period discussed above or one year from the date of listing to satisfy the requirements.