Feutune Light Acquisition Corp. Faces Delisting Concerns

Ticker: AIEV · Form: 8-K · Filed: Jun 17, 2024 · CIK: 1912582

Sentiment: bearish

Topics: delisting, listing-standards, regulatory-filing

TL;DR

Feutune Light Acquisition Corp. is in hot water with listing rules, might get delisted.

AI Summary

Feutune Light Acquisition Corp. filed an 8-K on June 17, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule. The company, incorporated in Delaware with a fiscal year end of December 31, is involved in the motor vehicles and passenger car bodies industry. Its business address is in Metuchen, NJ.

Why It Matters

This filing indicates potential issues with Feutune Light Acquisition Corp.'s continued listing on an exchange, which could impact its stock trading and investor confidence.

Risk Assessment

Risk Level: high — A notice of delisting or failure to meet listing standards poses a significant risk to the company's trading status and market viability.

Key Players & Entities

FAQ

What specific rule or standard has Feutune Light Acquisition Corp. failed to satisfy?

The filing indicates a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard' but does not specify the exact rule in the provided text.

What is the exact date of the event triggering this 8-K filing?

The date of the earliest event reported is June 14, 2024.

Where is Feutune Light Acquisition Corp. headquartered?

The company's business and mailing address is listed as 48 Bridge Street, Building A, Metuchen, NJ 08840.

What is the SIC code for Feutune Light Acquisition Corp.?

The Standard Industrial Classification (SIC) code is 3711, which corresponds to MOTOR VEHICLES & PASSENGER CAR BODIES.

When was this 8-K filing submitted to the SEC?

The filing was submitted on June 17, 2024.

Filing Stats: 1,556 words · 6 min read · ~5 pages · Grade level 19.7 · Accepted 2024-06-17 06:04:14

Key Financial Figures

Filing Documents

01 Notice of Delisting or Failure to Satisfy a Continued

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On June 14, 2024, Feutune Light Acquisition Corporation (the "Company" or "FLFV") received a written notice (the "Notice") from the Listing Qualifications Department (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, for the period from March 19 through April 30, 2024, the Company's Market Value of Listed Securities ("MVLS") was below the minimum of $50 million required for continued listing on The Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(b)(2)(A) (the "Market Value Standard"). The Staff also noted that the Company does not meet the requirements under Nasdaq Listing Rule 5450(b)(3)(A) (the "Total Assets/Total Revenue Standard"). An indicator will be displayed with quotation information related to the Company's securities on NASDAQ.com and NASDAQTrader.com and may be displayed by other third-party providers of market data information, however, the Notice does not impact the listing of the Company's securities on The Nasdaq Global Market at this time. The Notice provided that, in accordance with Nasdaq Listing Rule 5810(c)(3)(C) (the "Compliance Period Rule"), the Company has a period of 180 calendar days from the date of the Notice, or until December 11, 2024 (the "Compliance Date"), to regain compliance with the Market Value Standard. During this period, the Company's securities will continue to trade on The Nasdaq Global Market. If at any time before the Compliance Date the Company's MVLS closes at or above $50 million for a minimum of 10 consecutive business days as required under the Compliance Period Rule, the Staff will provide written notification to the Company that it has regained compliance with the Market Value Standard and will close the matter. If the Company does not regain compliance with the Market Value Standard by the Compliance Date, the Staff will provide a written notification to the

Forward-Looking Statements

Forward-Looking Statements As previously disclosed, on October 26, 2023, FLFV entered into an Agreement and Plan of Merger (as may be amended from time to time, the "Merger Agreement"), by and among FLFV, Feutune Light Merger Sub, Inc., a Delaware corporation and wholly-owned subsidiary of FLFV ("Merger Sub"), and Thunder Power Holdings Limited, a British Virgin Islands company ("Thunder Power"), pursuant to which Thunder Power will merge with and into Merger Sub, with Merger Sub surviving as a wholly-owned subsidiary of FLFV (the "Business Combination"). This Report contains certain "forward-looking statements" within the meaning of the Securities Act and the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Statements that are not historical facts, including initial enterprise value and post-closing equity value, the benefits of the proposed Business Combination, integration plans, expected synergies and revenue opportunities, anticipated future financial and operating performance and results, including estimates for growth, the expected management and governance of the combined company, and the expected timing of the transactions. The words "expect," "believe," "estimate," "intend," "plan" and similar expressions indicate forward-looking assumptions (including assumptions about general economic, market, industry and operational factors), known or unknown, which could cause the actual results to vary materially from those indicated or anticipated. Such risks and uncertainties include, but are not limited to: (i) risks related to the expected ti

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Feutune Light Acquisition Corporation Date: June 17, 2024 By: /s/ Yuanmei Ma Name: Yuanmei Ma Title: Chief Financial Officer 3

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