Western Acquisition Ventures Corp. Faces Delisting Notice
Ticker: CYCUW · Form: 8-K · Filed: Mar 12, 2024 · CIK: 1868419
| Field | Detail |
|---|---|
| Company | Western Acquisition Ventures CORP. (CYCUW) |
| Form Type | 8-K |
| Filed Date | Mar 12, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $11.50 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards
Related Tickers: WAVS
TL;DR
WAVS got a delisting notice, might be trouble.
AI Summary
Western Acquisition Ventures Corp. filed an 8-K on March 11, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The company is incorporated in Delaware and its principal executive offices are located at 42 Broadway, 12th Floor, New York, NY 10004.
Why It Matters
This filing indicates potential issues with the company's continued listing on an exchange, which could impact its stock trading and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting directly threatens the company's ability to remain publicly traded, posing a significant risk to investors.
Key Players & Entities
- Western Acquisition Ventures Corp. (company) — Registrant
- March 11, 2024 (date) — Date of earliest event reported
- 42 Broadway, 12th Floor, New York, NY 10004 (location) — Principal Executive Offices
FAQ
What specific rule or standard has Western Acquisition Ventures Corp. failed to satisfy?
The filing states it is 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 date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is March 11, 2024.
Where are the principal executive offices of Western Acquisition Ventures Corp. located?
The principal executive offices are located at 42 Broadway, 12th Floor, New York, New York 10004.
What is the Commission File Number for Western Acquisition Ventures Corp.?
The Commission File Number is 001-41214.
What is the I.R.S. Employer Identification No. for Western Acquisition Ventures Corp.?
The I.R.S. Employer Identification No. is 86-3720717.
Filing Stats: 667 words · 3 min read · ~2 pages · Grade level 13.2 · Accepted 2024-03-12 16:23:18
Key Financial Figures
- $0.001 — ck Market LLC Common Stock, par value $0.001 per share WAVS The Nasdaq Stock Mar
- $11.50 — of common stock at an exercise price of $11.50 per share WAVSW The Nasdaq Stock Ma
Filing Documents
- tm248583-1_8k.htm (8-K) — 27KB
- 0001104659-24-033482.txt ( ) — 247KB
- wavs-20240311.xsd (EX-101.SCH) — 4KB
- wavs-20240311_def.xml (EX-101.DEF) — 27KB
- wavs-20240311_lab.xml (EX-101.LAB) — 36KB
- wavs-20240311_pre.xml (EX-101.PRE) — 25KB
- tm248583-1_8k_htm.xml (XML) — 6KB
01
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On March 11, 2024, Western Acquisition Ventures Corp. (the "Company") received a letter from the staff of the Listing Qualifications Department of the Nasdaq Stock Market (the "Staff") stating that due to the resignations of Stephen Christoffersen, William Lischak, Ade Okunabi, Robin Smith and Adam Stern, constituting the entire board of directors of the Company (the "Board"), effective December 27, 2023, which was previously reported in a current report on Form 8-K filed with the Securities and Exchange Commission on January 3, 2024, the Company no longer complies with Nasdaq's Majority Independent Board rule, its Audit Committee Rule, or its Compensation Committee Rule as set forth in Listing Rule 5605(b)(1). In accordance with Nasdaq Listing Rule 5605(b)(1)(A), Nasdaq will provide the Company a cure period in order to regain compliance as follows: (i) until the earlier of the Company's next annual stockholders' meeting or December 28, 2024; or (ii) if the Company's next annual stockholders' meeting is held before June 25, 2024, then the Company must evidence compliance no later than June 25, 2024 (the "Cure Period"). If the Company fails to regain compliance within the Cure Period, the Nasdaq Listing Rules require the Staff to provide written notification to the Company that its securities will be delisted. The Company is actively engaged in efforts to regain compliance with the requirements set forth in Nasdaq Listing Rule 5605 and plans to regain compliance within the Cure Period provided by Nasdaq. The Company, by filing this Form 8-K, discloses its receipt of the notification from Nasdaq in accordance with Nasdaq Listing Rule 5810(b).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. WESTERN ACQUISITION VENTURES CORP. Date: March 12, 2024 By: /s/ James P McCormick James P. McCormick, President and CEO