regulatory
confidence high
sentiment negative
materiality 0.80
IX Acquisition Corp. receives Nasdaq delisting notice for failure to complete business combination within 36 months
IX Acquisition Corp.
- Nasdaq notified IX Acquisition on October 7, 2024 that it failed to complete an initial business combination within 36 months, triggering delisting under Nasdaq IM 5101-2.
- The company requested a hearing before the Nasdaq Hearings Panel, with trading suspended starting October 14, 2024.
- At the extraordinary general meeting on October 9, 2024, shareholders approved the Third Extension Amendment proposal with 6,655,125 votes for and 176,210 against.
- In connection with the shareholder vote, 1,235,698 shares were tendered for redemption.
- The company submitted a de-SPAC listing application for the combined company on the Nasdaq Global Market on October 7, 2024.