Lakeshore Acquisition II Corp. amends charter to remove net tangible asset requirement for penny stock rule exemption

Lakeshore Acquisition II Corp.

Charter Amendment filed March 5, 2024, removes net tangible asset requirement to expand methods to avoid SEC penny stock rules.
Amendment was approved at extraordinary general meeting of shareholders on February 15, 2024.
Full text of Amendment filed as Exhibit 3.1 to this Form 8-K.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Lakeshore Acquisition II Corp.: Expanded methods to avoid penny stock rules by removing net tangible asset requirement (effective 2024-03-05).

Change: charter amendment
Effective: 2024-03-05

Exact text from the filing

On March 5, 2024, Lakeshore Acquisition II Corp. (“Lakeshore”) filed an Amendment (the “Charter Amendment”) to Lakeshore’s Amended and Restated Memorandum and Articles of Association to expand the methods that Lakeshore may employ to not become subject to the Securities and Exchange Commission’s “penny stock” rules by removing the net tangible asset requirement therein.

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Source: SEC EDGAR

accession 0001213900-24-020785

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