06:09 AM EDT, 05/28/2024 (MT Newswires) -- Aquaron Acquisition ( AQU ) said Monday that it has received notice from the Nasdaq Stock Market that the company is now not in compliance with its listing rules as the company did file its Form 10-Q for the period ended March 31 with the US Securities and Exchange Commission on time.

The special purpose acquisition company has 60 calendar days, or until July 22, to submit a plan to regain compliance. If Nasdaq approves the plan, it can provide an exception for up to 180 calendar days, or until Nov. 18, to regain compliance. Otherwise, the company's common stock may be delisted.

The company said it plans to file the Form 10-Q as soon as it completes the preparation and assessment of its financial statements for the period ended March 31.

The company said the notice has no immediate effect on the listing or trading of its securities on the Nasdaq Capital Market.