APX Acquisition Corp. I Announces Nasdaq Delisting Notification for Warrants and Units
APX Acquisition Corp. I (NASDAQ: APXI) has received notice from Nasdaq regarding the delisting of its warrants and units due to non-compliance with listing requirements. The company failed to maintain the required $1 million minimum aggregate market value for its outstanding warrants. Although APXI submitted a compliance plan, Nasdaq rejected it due to insufficient evidence of achieving compliance before the December 6, 2024 deadline. The company's warrants and units will be suspended from trading on November 5, 2024, and subsequently delisted. This action does not affect the listing of APXI's Class A ordinary shares on the Nasdaq Global Market.
APX Acquisition Corp. I (NASDAQ: APXI) ha ricevuto un avviso da Nasdaq riguardante il delisting dei suoi warrant e delle sue unità a causa della non conformità ai requisiti di quotazione. L'azienda non è riuscita a mantenere il valore di mercato aggregato minimo richiesto di $1 milione per i suoi warrant in circolazione. Anche se APXI ha presentato un piano di conformità, Nasdaq lo ha respinto a causa di prove insufficienti per raggiungere la conformità prima della scadenza del 6 dicembre 2024. I warrant e le unità dell'azienda saranno sospesi dalla negoziazione il 5 novembre 2024 e successivamente delistati. Questa azione non influisce sulla quotazione delle azioni ordinarie di Classe A di APXI nel Nasdaq Global Market.
APX Acquisition Corp. I (NASDAQ: APXI) ha recibido un aviso de Nasdaq sobre el deslistado de sus warrants y unidades debido a la no conformidad con los requisitos de cotización. La empresa no logró mantener el valor de mercado agregado mínimo requerido de $1 millón para sus warrants en circulación. Aunque APXI presentó un plan de cumplimiento, Nasdaq lo rechazó debido a la falta de evidencia suficiente para alcanzar el cumplimiento antes de la fecha límite del 6 de diciembre de 2024. Los warrants y las unidades de la empresa serán suspendidos de la negociación el 5 de noviembre de 2024 y posteriormente deslistados. Esta acción no afecta la cotización de las acciones ordinarias Clase A de APXI en el Nasdaq Global Market.
APX Acquisition Corp. I (NASDAQ: APXI)는 Nasdaq으로부터 상장 요건 미준수로 인해 자사 워런트와 유닛의 상장 폐기 통지를 받았습니다. 이 회사는 발행된 워런트의 1백만 달러 최소 총 시장 가치를 유지하지 못했습니다. APXI는 준수 계획을 제출했지만, Nasdaq은 2024년 12월 6일 기한 전에 준수를 달성할 수 있는 충분한 증거가 없다며 이를 거부했습니다. 회사의 워런트와 유닛은 2024년 11월 5일 거래가 중단되며, 이후 상장 폐지됩니다. 이 조치는 APXI의 클래스 A 일반 주식이 Nasdaq Global Market에 상장된 것에는 영향을 미치지 않습니다.
APX Acquisition Corp. I (NASDAQ: APXI) a reçu une notification de Nasdaq concernant le retrait de ses warrants et unités en raison de son non-respect des exigences de cotation. La société n'a pas réussi à maintenir la valeur de marché agrégée minimale requise de 1 million de dollars pour ses warrants en circulation. Bien qu'APXI ait soumis un plan de conformité, Nasdaq l'a rejeté en raison de preuves insuffisantes pour atteindre la conformité avant la date limite du 6 décembre 2024. Les warrants et unités de la société seront suspendus de la négociation le 5 novembre 2024, puis delistés. Cette action n'affecte pas la cotation des actions ordinaires de Classe A d'APXI sur le Nasdaq Global Market.
APX Acquisition Corp. I (NASDAQ: APXI) hat eine Mitteilung von Nasdaq über die Delistung ihrer Warrants und Einheiten aufgrund von Nichteinhaltung der Listungsanforderungen erhalten. Das Unternehmen konnte den erforderlichen mindestens 1 Million Dollar aggregierten Marktwert für die ausgegebenen Warrants nicht aufrechterhalten. Obwohl APXI einen Compliance-Plan eingereicht hat, wurde dieser von Nasdaq wegen unzureichender Nachweise zur Erreichung der Compliance vor der Frist am 6. Dezember 2024 abgelehnt. Die Warrants und Einheiten des Unternehmens werden am 5. November 2024 vom Handel ausgesetzt und anschließend delistet. Diese Maßnahme hat keine Auswirkungen auf die Listung der Stammaktien der Klasse A von APXI am Nasdaq Global Market.
- None.
- Warrants and units to be delisted from Nasdaq due to non-compliance
- Market value of outstanding warrants fell below $1 million minimum requirement
- Company's compliance plan was rejected by Nasdaq
- Trading suspension of warrants and units effective November 5, 2024
Insights
This delisting notification for APXI's warrants and units represents a significant development that highlights underlying financial challenges. The company's failure to maintain the required
The company's inability to present a viable compliance plan before its December 2024 expiration date is particularly concerning. This suggests strategic options and raises questions about the SPAC's ability to complete a business combination within the required timeframe. Investors holding warrants may face reduced liquidity and potential losses as these securities move to over-the-counter markets.
On October 29, 2024, the Company received written notice from the Staff (the "November Notice"), stating that the Compliance Plan was not accepted as the Company had provided insufficient evidence to demonstrate that it can effect the Compliance Plan by its 36-month expiration date of December 6, 2024, at which time the Company's securities will be delisted from Nasdaq in accordance with IM-5101-2, irrespective of the Company's progress or lack thereof toward regaining compliance with the Rule, and that the Staff had determined to initiate procedures to delist the Company's warrants (and, as a result of the warrants' inclusion therein, the Company's units) from Nasdaq due to the Company's non-compliance.
Pursuant to the Notice, unless the Company requests a hearing to appeal this determination by November 5, 2024, the Company's warrants and units will be suspended at the opening of business on November 5, 2024, and a Form 25-NSE will be filed with the SEC, which will remove the Company's warrants and units from listing and registration on Nasdaq (the "Warrant/Unit Delisting"). The Company does not intend to request a hearing. The Warrant/Unit Delisting does not affect the listing or trading of the Company's Class A ordinary shares on the Nasdaq Global Market, other than those contained within the units.
About APX Acquisition Corp. I
The Company is a special purpose acquisition company, led by serial SPAC sponsor Kyle Bransfield, formed for the purpose of effecting a business combination with one or more businesses or entities. While the Company may pursue an initial business combination in any industry, The Company intends to focus its search on companies in Spanish-speaking Latin American countries or companies outside of Latin America that provide goods and services to Spanish-speaking markets.
Forward-Looking Statements
This press release includes, and oral statements made from time to time by representatives of the Company may include, "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding possible business combinations and the financing thereof, and related matters, as well as all other statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions, as they relate to the Company or the Company's management team, identify forward-looking statements. Such forward-looking statements in this press release include, but are not limited to, statements related to the Company's remediation plan, and timing and actions taken to regain compliance with Nasdaq. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company's filings with the SEC. All subsequent written or oral forward-looking statements attributable to the Company or persons acting on the Company's behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the "Risk Factors" section of the Company's registration statement and final prospectus relating to the Company's initial public offering filed with the SEC. Copies are available on the SEC's website at www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by applicable law.
Contacts:
APx Acquisition Corp. I
Kyle Bransfield
Chief Executive Officer
kyle.bransfield@unionacquisitiongroup.com
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SOURCE APx Acquisition Corp. I
FAQ
Why are APXI's warrants and units being delisted from Nasdaq?
When will APXI's warrants and units be suspended from trading?
Will the delisting affect APXI's Class A ordinary shares?
What was APXI's deadline to regain compliance with Nasdaq listing requirements?
