Insight Acquisition Corp. Files 8-K/A Amendment on Delisting Concerns
Ticker: AMODW · Form: 8-K/A · Filed: Aug 20, 2024 · CIK: 1862463
Sentiment: neutral
Topics: delisting, amendment, listing-rules
Related Tickers: INAQ
TL;DR
Insight Acquisition Corp. is facing potential delisting issues, filing an 8-K/A amendment on 8/20/24.
AI Summary
Insight Acquisition Corp. /DE filed an amendment (8-K/A) on August 20, 2024, regarding a notice of delisting or failure to satisfy continued listing rules. The report pertains to events occurring on July 29, 2024, concerning the company's Class Common Stock and Redeemable Warrants.
Why It Matters
This filing indicates potential issues with Insight Acquisition Corp.'s ability to remain listed on an exchange, which could impact its stock value and investor confidence.
Risk Assessment
Risk Level: medium — Filings related to delisting or failure to meet listing standards suggest significant financial or operational challenges that could negatively impact the company's future.
Key Numbers
- 001-40775 — SEC File Number (Identifies the company's filings with the SEC)
- 86-3386030 — IRS Number (Company's Employer Identification Number)
Key Players & Entities
- Insight Acquisition Corp. /DE (company) — Registrant
- August 20, 2024 (date) — Filing date of the amendment
- July 29, 2024 (date) — Date of earliest event reported
- Class Common Stock (security) — Security affected by listing rules
- Redeemable Warrants (security) — Security affected by listing rules
FAQ
What specific listing rule or standard did Insight Acquisition Corp. fail to satisfy, leading to this 8-K/A filing?
The filing does not specify the exact rule or standard that was not met, only that it pertains to 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard'.
What is the significance of filing an amendment (8-K/A) instead of a new 8-K?
An 8-K/A is filed to correct or amend information previously reported in an 8-K filing, indicating a modification or update to prior disclosures.
When was the original event that triggered the need for this amended filing?
The earliest event reported in this filing occurred on July 29, 2024.
What are the primary securities mentioned in relation to the delisting concerns?
The filing mentions Insight Acquisition Corp.'s Class Common Stock and Redeemable Warrants in the context of the listing rules.
What is the company's state of incorporation and fiscal year end?
Insight Acquisition Corp. is incorporated in Delaware, and its fiscal year ends on December 31.
Filing Stats: 746 words · 3 min read · ~2 pages · Grade level 14.7 · Accepted 2024-08-20 17:10:08
Key Financial Figures
- $0.0001 — , LLC Class A Common Stock, par value $0.0001 per share INAQ The Nasdaq Stock Mar
- $11.50 — A Common Stock at an exercise price of $11.50 INAQW The Nasdaq Stock Market, LLC
- $15,000,000 m — ed securities failed to comply with the $15,000,000 market value of listed securities ("MVLS"
- $15,000,000 — the MVPHS of the Company must close at $15,000,000 or more for a minimum of ten consecutiv
Filing Documents
- ea0211925-8ka1_insight.htm (8-K/A) — 33KB
- 0001213900-24-071189.txt ( ) — 260KB
- inaq-20240729.xsd (EX-101.SCH) — 4KB
- inaq-20240729_def.xml (EX-101.DEF) — 27KB
- inaq-20240729_lab.xml (EX-101.LAB) — 37KB
- inaq-20240729_pre.xml (EX-101.PRE) — 25KB
- ea0211925-8ka1_insight_htm.xml (XML) — 9KB
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. Insight Acquisition Corp., a Delaware corporation (the "Company"), received a notice, dated July 29, 2024 (the "Notice") from the Nasdaq Stock Market LLC ("Nasdaq"), stating that the Company's listed securities failed to comply with the $15,000,000 market value of publicly held securities ("MVPHS") requirement for continued listing on The Nasdaq Capital Market in accordance with Nasdaq Listing Rule 5450(b)(2)(C) based upon the Company's MVPHS for the 30 consecutive business days prior to the date of the Notice. The Notice has no immediate effect on the listing of the Company's securities on Nasdaq and in accordance with Nasdaq Listing Rule 5810(c)(3)(D), the Company has been provided a period of 180 calendar days, or until January 27, 2025, in which to regain compliance. In order to regain compliance, the MVPHS of the Company must close at $15,000,000 or more for a minimum of ten consecutive business days during this 180-day period. There can be no assurance that the Company will be able to regain compliance with the MVPHS requirement, or maintain compliance with the other Nasdaq continued listing requirements. 1
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. Dated: August 20, 2024 INSIGHT ACQUISITION CORP. By: /s/ Michael Singer Name: Michael Singer Title: Executive Chairman and Chief Executive Officer 2