Spark I gets Nasdaq notice ahead of Kneron deadline
Spark I Acquisition Corp is facing a new Nasdaq compliance issue as it revealed it’s no longer meeting the minimum holder rule. SPKL shares ended Wednesday at $12.40, up 1.39%. The SPAC touched $12.59 during the session and had a market cap around $107.37 million. Why it matters now: Spark remains a shell at this point. What matters more is its spot on the exchange, who owns its shares, and how much cash sits in trust—these outweigh any normal earnings figures. The company is a SPAC, short for special purpose acquisition company, which raises capital first before hunting for a merger with a private firm.