Enzolytics Inc (ENZC)

[sspalmo]

Normally if a SPAC does not complete its BCA then its funds are returned to the investors. From what I have seen when a SPAC fails and doesn't have numerous violations causing it to be delisted the ticker symbol remains on Nasdaq and they are allowed to start a new attempt at a BCA. In this case SAGA was removed from Nasdaq listing not for failure to complete their BCA, but for a number of deficiencies (violations). When a company is removed from Nasdaq listing, they can apply to be listed on an OTC tier. SAGA was a SPAC not a company, and I have yet to find an example of a SPAC that was delisted from Nasdaq that went on to be listed on the OTC. I did have a few posts about this with links a while ago when I did a back and forth with I-Glow. He tried to make it appear that SAGA was failing at their attempt to be listed on the OTC, which they can't do.