ASPAC II Acquisition Corp. (ASCBF): Nasdaq/NYSE listing notice — Nasdaq notifies ASCB of non-compliance with $50M market value rule; Sponsor obtains 68.1% of Class A via exchange

ASPAC II Acquisition Corp.

Received Nasdaq notice on Dec 11, 2023 for failing $50M market value of listed securities over 30 consecutive business days.
Has 180 days (until June 10, 2024) to regain compliance by closing at $50M+ for 10 consecutive business days.
Non-compliance may lead to delisting; Company can apply to Nasdaq Capital Market or appeal.
Sponsor exchanged 4.9M Class B shares for 4.9M Class A shares, now holds ~68.1% of outstanding Class A shares.
New Class A shares subject to same restrictions (transfer, redemption waiver, voting on business combination) as original Class B.

item 3.01 item 3.02

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

ASPAC II Acquisition Corp. received a nasdaq deficiency notice notice regarding market value (rules 5450(b)(2)(A)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5450(b)(2)(A)

Exact text from the filing

December 11, 2023, A SPAC II Acquisition Corp. (“ASCB” or the “Company”) received a notice (the “Notice”) from the Nasdaq Stock Market LLC (“Nasdaq”), stating that the Company’s listed securities failed to comply with the $50,000,000 market value of listed securities requirement for continued listing on the Nasdaq Global Market in accordance with Nasdaq Listing Rule 5450(b)(2)(A) based upon the Company’s market value of listed securities for the 30 consecutive business days prior to the date of the Notice. The Notice has no immediate effect on the listing of the Company’s securities on Nasdaq

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ASPAC II Acquisition Corp. filing history →

Source: SEC EDGAR

accession 0001213900-23-095401

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