Qomolangma Acquisition Corp. Will Redeem Its Public Shares and Will Not Consummate an Initial Business Combination
Qomolangma Acquisition Corp (NASDAQ: QOMO) has announced it will redeem all outstanding public shares effective December 27, 2024, as it failed to complete an initial business combination within the required timeframe. The company will proceed with liquidation and voluntary delisting from Nasdaq.
Shareholders will receive approximately $10.88 per share as redemption payment, reflecting adjustments for dissolution expenses ($50,000), federal taxes ($563,803), and Delaware taxes ($59,172.80). The redemption amount will be paid upon presentation of stock certificates to the transfer agent, Equiniti Trust Company Street name holders need not take action.
CEO Jonathan Myers cited challenging market conditions and the sponsor's inability to fund extension payments as key factors in the decision. The company's warrants will expire worthless, and the sponsor has waived redemption rights for founder shares and private placement warrants.
Qomolangma Acquisition Corp (NASDAQ: QOMO) ha annunciato che procederà a riacquistare tutte le azioni pubbliche in circolazione a partire dal 27 dicembre 2024, poiché non è riuscita a completare una combinazione aziendale iniziale entro il termine richiesto. L'azienda procederà con la liquidazione e il delisting volontario da Nasdaq.
I soci riceveranno circa $10,88 per azione come pagamento di riscatto, che riflette le modifiche per le spese di liquidazione ($50.000), le tasse federali ($563.803) e le tasse del Delaware ($59.172,80). L'importo del riscatto sarà pagato alla presentazione dei certificati azionari all'agente di trasferimento, Equiniti Trust Company. I possessori di azioni in nome di strada non devono intraprendere alcuna azione.
Il CEO Jonathan Myers ha citato condizioni di mercato difficili e l'incapacità dello sponsor di finanziare i pagamenti di estensione come fattori chiave nella decisione. I warrant dell'azienda scadranno senza valore, e lo sponsor ha rinunciato ai diritti di riscatto per le azioni dei fondatori e i warrant della private placement.
Qomolangma Acquisition Corp (NASDAQ: QOMO) ha anunciado que procederá a redimir todas las acciones públicas pendientes a partir del 27 de diciembre de 2024, ya que no logró completar una combinación comercial inicial dentro del tiempo requerido. La compañía procederá con la liquidación y la exclusión voluntaria de Nasdaq.
Los accionistas recibirán aproximadamente $10.88 por acción como pago de redención, lo que refleja ajustes por gastos de disolución ($50,000), impuestos federales ($563,803) y impuestos de Delaware ($59,172.80). El monto de la redención se pagará al presentar los certificados de acciones al agente de transferencia, Equiniti Trust Company. Los titulares de acciones en nombre de la calle no necesitan tomar ninguna medida.
El CEO Jonathan Myers mencionó las difíciles condiciones del mercado y la incapacidad del patrocinador para financiar los pagos de extensión como factores clave en la decisión. Los warrants de la compañía expirarán sin valor, y el patrocinador ha renunciado a los derechos de redención para las acciones fundadoras y los warrants de colocación privada.
Qomolangma Acquisition Corp (NASDAQ: QOMO)은 필수 시간 내에 초기 사업 결합을 완료하지 못함에 따라 2024년 12월 27일부터 모든 유통 주식을 환매하겠다고 발표했습니다. 이 회사는 청산 절차를 진행하고 Nasdaq에서 자발적으로 상장 폐지할 것입니다.
주주들은 약 $10.88 per share의 환매 금액을 받게 되며, 이는 청산 비용($50,000), 연방 세금($563,803), 델라웨어 세금($59,172.80)을 반영한 조정금입니다. 환매 금액은 주식 인증서를 이전 에이전트인 Equiniti Trust Company에 제시할 때 지급됩니다. 거리 이름 보유자는 별도로 조치를 취할 필요가 없습니다.
CEO Jonathan Myers는 어려운 시장 상황과 후원자의 연장 지급 자금 부족을 결정의 주요 요인으로 언급했습니다. 회사의 워런트는 무가치하게 만료되며, 후원자는 창립자 주식 및 사모 배치 워런트에 대한 환매 권리를 포기했습니다.
Qomolangma Acquisition Corp (NASDAQ: QOMO) a annoncé qu'elle procédera à un remboursement de toutes les actions publiques en circulation à compter du 27 décembre 2024, n'ayant pas réussi à réaliser une combinaison d'affaires initiale dans le délai imparti. La société procédera à la liquidation et au retrait volontaire de Nasdaq.
Les actionnaires recevront environ 10,88 $ par action en guise de paiement de rachat, reflétant les ajustements pour les frais de dissolution (50 000 $), les taxes fédérales (563 803 $) et les taxes du Delaware (59 172,80 $). Le montant du rachat sera versé sur présentation des certificats d'actions à l'agent de transfert, Equiniti Trust Company. Les détenteurs d'actions au nom de la rue n'ont pas besoin d'agir.
Le PDG Jonathan Myers a cité des conditions de marché difficiles et l'incapacité du sponsor à financer les paiements d'extension comme des facteurs clés de la décision. Les bons de souscription de l'entreprise arriveront à expiration sans valeur et le sponsor a renoncé aux droits de rachat pour les actions des fondateurs et les bons de souscription de placement privé.
Qomolangma Acquisition Corp (NASDAQ: QOMO) hat bekannt gegeben, dass sie am 27. Dezember 2024 alle ausstehenden öffentlichen Aktien zurückkaufen wird, da es nicht gelungen ist, eine erste Unternehmensfusion innerhalb des erforderlichen Zeitrahmens abzuschließen. Das Unternehmen wird mit der Liquidation fortfahren und sich freiwillig von Nasdaq abmelden.
Aktionäre werden etwa 10,88 $ pro Aktie als Rückzahlungsbetrag erhalten, was Anpassungen für Liquidationskosten (50.000 $), Bundessteuern (563.803 $) und Delaware-Steuern (59.172,80 $) widerspiegelt. Der Rückzahlungsbetrag wird bei Vorlage der Aktienzertifikate beim Transferagenten Equiniti Trust Company ausgezahlt. Straßeninhaber müssen keine Maßnahmen ergreifen.
CEO Jonathan Myers nannte schwierige Marktbedingungen und die Unfähigkeit des Sponsors, Erweiterungszahlungen zu finanzieren, als wichtige Faktoren für die Entscheidung. Die Warrants des Unternehmens verfallen wertlos, und der Sponsor hat auf Rückkaufsrechte für Gründeraktien und Privatplatzierungswarrants verzichtet.
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NEW YORK, NY, Jan. 06, 2025 (GLOBE NEWSWIRE) -- Qomolangma Acquisition Corp. (NASDAQ: QOMO) (“Qomolangma” or the “Company”), a publicly-traded special purpose acquisition company, today announced that it will redeem all of its outstanding public shares of common stock, par value
“Our board made the difficult decision to proceed with a liquidation because we believe doing so is in the best interest of our stockholders,” said Jonathan Myers, CEO of Qomolangma. “We met with many strong companies over the last two years and signed an LOI on a very promising transaction, which ultimately did not result in a definitive agreement. However, current market dynamics and our sponsor’s inability to continue to fund the extension payments persuaded us that the prudent decision was to return to stockholders the capital held in trust, with interest, on our original timeline rather than seek a further extension.”
Delisting of the Company
On January 3, 2025, the Company notified The Nasdaq Stock Market (“Nasdaq”) that the Company seeks a voluntary delisting. The Company expects that Nasdaq will file a Form 25 with the U.S. Securities and Exchange Commission (the “Commission”) to delist its securities, and that the delisting will become effective ten days after Nasdaq files the Form 25 with the Commission to complete the delisting. The Company thereafter expects to file a Form 15 with the Commission to terminate the registration of its securities under the Securities Exchange Act of 1934, as amended.
As stated in the Company’s registration statement on Form S-1, effective as of September 29, 2022, and in the Company’s Amended and Restated Certificate of Incorporation, as amended through the third amendment thereof, if the Company is unable to complete an initial business combination within 36 months of the closing of the Company’s initial public offering, the Company will: (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter subject to lawfully available funds therefor, redeem
Redemption Amount
The per-share redemption price for the public shares will be approximately
The Redemption Amount will be payable to the holders of the public shares upon presentation of their respective stock or unit certificates or other delivery of their shares or units to the Company’s transfer agent, Equiniti Trust Company LLC, formerly known as American Stock Transfer & Trust Company LLC. Beneficial owners of public shares held in “street name,” however, will not need to take any action in order to receive the Redemption Amount.
There will be no redemption rights or liquidating distributions with respect to the Company’s warrants, which will expire worthless. The Company’s sponsor has waived its redemption rights with respect to the outstanding founder shares and private placement warrants.
Forward-Looking Statements
This press release may include, and oral statements made from time to time by representatives of Qomolangma 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 us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. 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 Securities and Exchange Commission (“SEC”). All subsequent written or oral forward-looking statements attributable to us or persons acting on our 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 annual report on Form 10-K for the fiscal year ended December 31, 2023, filed with the SEC on July 2, 2024. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contacts:
Qomolangma Acquisition Corp.
Jonathan Myers, CEO
Phone: (318) 747-6340
SOURCE: Qomolangma Acquisition Corp.
FAQ
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What happens to QOMO warrants after the redemption?
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Why did QOMO decide to liquidate and redeem shares?
