AVHI Achari Ventures Holdings Corporation I

On January 22, 2023, Achari Ventures Holdings Corp. I, a Delaware company (the “Company”) received a letter (the “Letter”) from the Nasdaq Listing Qualifications department of Nasdaq Global Market (“Nasdaq”) indicating that the Company was not in compliance with certain continued listing requirements, including (i) Listing Rule 5450(b)(2)(A), requiring a “Market Value” of “Listed Securities” of $50 million, (ii) Listing Rule 5450(b)(2)(B), requiring at least 1,100,000 “Publicly Held Shares” and (iii) Listing Rule 5450(b)(2)(C), requiring a “Market Value” of “Publicly Held Shares” of at least $15 million. In addition, the Letter stated that the Company is not in compliance with either of the alternative requirements for continued listing on under Listing Rules 5450(b)(1) or 5450(b)(3). The Letter is only a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of the Company’s securities on Nasdaq.

The Letter states that the Company has 45 calendar days to submit a plan to regain compliance. If the Company is unable to regain compliance with the continued listing requirements by that date, the Company intends to submit a plan to regain compliance within the required timeframe. If Nasdaq accepts the Company’s plan, Nasdaq may grant the Company an extension of up to 180 calendar days from the date of the Letter to evidence compliance with the continued listing requirements. If Nasdaq does not accept the Company’s plan, the Company will have the opportunity to appeal the decision.