regulatory
confidence high
sentiment negative
materiality 0.85
ASPAC II receives Nasdaq delisting notice for failing minimum shareholder rule
ASPAC II Acquisition Corp.
- Nasdaq notified on Sep 13, 2024 that ASPAC II did not meet minimum 400 total shareholders requirement (Rule 5450(a)(2)).
- Company failed to regain compliance during extension ending Sep 11, 2024.
- Deadline to request hearing before Nasdaq Panel is Sep 20, 2024; otherwise trading suspended Sep 24, 2024.
- If delisted, securities expected to trade OTC; company intends to relist upon completion of business combination.