ACAB Faces Nasdaq Delisting Notice
Ticker: ABPWW · Form: 8-K · Filed: Oct 21, 2024 · CIK: 1893219
Sentiment: bearish
Topics: delisting, listing-standards, spac
Related Tickers: ACAB
TL;DR
ACAB got a delisting warning from Nasdaq, might be in trouble.
AI Summary
Atlantic Coastal Acquisition Corp. II (ACAB) announced on October 16, 2024, that it received a notice from the Nasdaq Stock Market indicating a failure to meet continued listing requirements. The company is currently evaluating the notice and plans to respond to the Nasdaq staff.
Why It Matters
This notice suggests potential delisting from Nasdaq, which could significantly impact the liquidity and trading of ACAB's securities.
Risk Assessment
Risk Level: high — Receiving a delisting notice from a major stock exchange like Nasdaq indicates a serious risk to the company's continued public trading status.
Key Players & Entities
- Atlantic Coastal Acquisition Corp. II (company) — Registrant
- ACAB (company) — Ticker Symbol
- Nasdaq Stock Market (company) — Exchange
- October 16, 2024 (date) — Date of earliest event reported
FAQ
What specific continued listing rule did Atlantic Coastal Acquisition Corp. II fail to meet?
The filing states that the company received a notice from the Nasdaq Stock Market indicating a failure to meet continued listing requirements, but does not specify which particular rule was violated.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is October 16, 2024.
What action does Atlantic Coastal Acquisition Corp. II plan to take in response to the Nasdaq notice?
The company is currently evaluating the notice and plans to respond to the Nasdaq staff.
What is the principal executive office address for Atlantic Coastal Acquisition Corp. II?
The principal executive offices are located at 6 St Johns Lane, Floor 5, New York, NY 10013.
What is the SIC code and industry classification for Atlantic Coastal Acquisition Corp. II?
The Standard Industrial Classification (SIC) code is 2836, and the industry classification is BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES).
Filing Stats: 2,031 words · 8 min read · ~7 pages · Grade level 17.1 · Accepted 2024-10-21 17:00:56
Key Financial Figures
- $0.0001 — of one share of Series A common stock, $0.0001 par value, and one-half of one redeemab
- $11.50 — A common stock at an exercise price of $11.50 ACABW The Nasdaq Stock Market LLC
- $15,000,000 — market value of publicly held shares of $15,000,000 for the 30 consecutive trading day such
Filing Documents
- d836608d8k.htm (8-K) — 39KB
- 0001193125-24-240485.txt ( ) — 210KB
- acab-20241016.xsd (EX-101.SCH) — 4KB
- acab-20241016_def.xml (EX-101.DEF) — 14KB
- acab-20241016_lab.xml (EX-101.LAB) — 24KB
- acab-20241016_pre.xml (EX-101.PRE) — 15KB
- d836608d8k_htm.xml (XML) — 7KB
Forward-Looking Statements
Forward-Looking Statements This Current Report on Form 8-K includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe", "project", "expect", "anticipate", "estimate", "intend", "strategy", "future", "opportunity", "plan", "may", "should", "will", "would", "will be", "will continue", "will likely result" or similar expressions. that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of revenue and other financial and performance metrics and projections of market opportunity and expectations, ACAB's ability to enter into definitive agreements or consummate a transaction with Abpro; ACAB's ability to obtain the financing necessary consummate the Proposed Transactions; and the expected timing of completion of the Proposed Transactions. These statements are based on various assumptions and on the current expectations of ACAB's and Abpro's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of ACAB and Abpro. These forward looking statements are subject to a number of risks and uncertainties, including general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the outcome of judicial proceedings to which Abpro is, or may become