AlphaVest Acquisition Corp. Faces Delisting Notice

Ticker: AMCI · Form: 8-K · Filed: Sep 16, 2024 · CIK: 1937891

Sentiment: bearish

Topics: delisting, listing-standards, compliance

TL;DR

AlphaVest Acquisition Corp. got a notice about potentially being delisted.

AI Summary

AlphaVest Acquisition Corp. filed an 8-K on September 16, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule. The filing indicates a potential transfer of listing, with the earliest event reported on September 13, 2024.

Why It Matters

This filing signals potential issues with AlphaVest Acquisition Corp.'s compliance with stock exchange listing standards, which could impact its trading status and investor confidence.

Risk Assessment

Risk Level: high — A notice of delisting or failure to meet listing standards is a significant event that can lead to the stock being removed from an exchange.

Key Players & Entities

FAQ

What specific listing rule or standard has AlphaVest Acquisition Corp. failed to satisfy?

The filing does not specify the exact rule or standard that was not met, only that a notice of delisting or failure to satisfy a continued listing rule or standard has been issued.

What is the earliest date associated with the event reported in this 8-K?

The earliest date reported for the event is September 13, 2024.

What is the filing date of this 8-K report?

The 8-K report was filed on September 16, 2024.

What is the primary purpose of this 8-K filing?

The primary purpose is to report a notice of delisting or failure to satisfy a continued listing rule or standard, and a potential transfer of listing.

Where is AlphaVest Acquisition Corp. incorporated?

AlphaVest Acquisition Corp. is incorporated in the Cayman Islands.

Filing Stats: 1,169 words · 5 min read · ~4 pages · Grade level 16.6 · Accepted 2024-09-16 17:26:44

Key Financial Figures

Filing Documents

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): September 13, 2024 ALPHAVEST ACQUISITION CORP (Exact name of registrant as specified in its charter) Cayman Islands 001-41574 N/A (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 420 Lexington Ave , Suite 2446 New York , NY 10170 (Address of principal executive offices, including zip code) Registrant's telephone number, including area code 203 - 998-5540 Not Applicable (Former name or former address, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Units, each consisting of one ordinary share and one right ATMVU The Nasdaq Stock Market LLC Ordinary Shares, par value $0.0001 per share ATMV The Nasdaq Stock Market LLC Rights, each right entitling the holder thereof to one-tenth of one ordinary share ATMVR The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On September 13, 2024, AlphaVest Acquisition Corp (the " Company ") received a written notice (the " Notice ") from the Listing Qualifications Department (the " Staff ") of The Nasdaq Stock Market LLC (" Nasdaq ") notifying the Company that the Company is not in compliance with Listing Rule 5450(a)(2) (the " Minimum Public Holders Rule "), which requires the Company to have at least 400 total holders for continued listing on The Nasdaq Global Market. An indicator will be displayed with quotation information related to the Company's securities on listingcenter.nasdaq.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 states that the Company has 45 calendar days, or until October 28, 2024, to submit a plan (the " Company's Plan ") to regain compliance with the Minimum Public Holders Rule. If the Company is unable to regain compliance by that date, the Company intends to submit a plan to regain compliance with the Minimum Public Holders Rule within the required timeframe. If Nasdaq accepts the Company's Plan, Nasdaq may grant the Company an extension of up to 180 calendar days from the date of the Notice to evidence compliance with the Minimum Public Holders Rule. If Nasdaq does not accept the Company's Plan, the Company will have the opportunity to appeal the decision in front of a Nasdaq Hearings Panel. However, there can be no assurance that such an appeal would be successful. The Company, by filing this Current Report Form 8-K, discloses its receipt of the Notice in accordance with Nasdaq Listing Rule 5810(b). The Company intends to monitor its total holders between now and October 28, 2024, and may, if appropriate, evaluate available options to resolve the deficiency under the Minimum Public Holders Rule and regain compliance with the Minimum Public Holders Rule. Additionally, the Company may consider applying to transfer the listing of its securities to The Nasdaq Capital Market (provided that it then satisfies the requirements for continued listing on that market). However, there can be no assurance that the Company will be able to regain or maintain compliance with Nasdaq listing criteria. Forward-Looking Certain the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Our forward-looking or strategies regarding the future. In addition, any statements that refer to projections

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