Embrace Change Acquisition Corp. Faces Delisting Notice
Ticker: EMCUF · Form: 8-K · Filed: Jul 1, 2024 · CIK: 1869601
| Field | Detail |
|---|---|
| Company | Embrace Change Acquisition CORP. (EMCUF) |
| Form Type | 8-K |
| Filed Date | Jul 1, 2024 |
| Risk Level | high |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0, $0.0001 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-rules, spac
TL;DR
EMBRACE CHANGE ACQUISITION CORP. (AMBR) got a delisting notice, might be delisted.
AI Summary
Embrace Change Acquisition Corp. filed an 8-K on June 24, 2024, reporting a notice of delisting or failure to satisfy continued listing rules. The company, a blank check company focused on real estate and construction, is located at 5186 Carroll Canyon Rd, San Diego, CA.
Why It Matters
This filing indicates potential delisting from an exchange, which could significantly impact the liquidity and trading of the company's securities.
Risk Assessment
Risk Level: high — A notice of delisting directly threatens the company's continued operation on a public exchange, posing a significant risk to investors.
Key Players & Entities
- Embrace Change Acquisition Corp. (company) — Registrant
- 0001869601 (company) — Central Index Key
- 6770 (company) — Standard Industrial Classification (Blank Checks)
- 5186 Carroll Canyon Rd, San Diego, CA 92121 (location) — Business and Mail Address
- June 24, 2024 (date) — Date of Report
FAQ
What is the primary reason for Embrace Change Acquisition Corp.'s 8-K filing?
The 8-K filing is primarily to report a notice of delisting or failure to satisfy a continued listing rule or standard.
When was the date of the earliest event reported in this filing?
The date of the earliest event reported is June 24, 2024.
What is the Standard Industrial Classification (SIC) code for Embrace Change Acquisition Corp.?
The SIC code is 6770, which corresponds to Blank Checks.
Where is Embrace Change Acquisition Corp. located?
The company's business and mail address is 5186 Carroll Canyon Rd, San Diego, CA 92121.
What type of securities are mentioned in relation to the company's units?
The units consist of one ordinary share, one warrant, and one right.
Filing Stats: 756 words · 3 min read · ~3 pages · Grade level 13.5 · Accepted 2024-07-01 17:10:20
Key Financial Figures
- $0 — ting of one Ordinary Share of par value $0.0001, one Warrant and one Right EMCGU
- $0.0001 — Market LLC Ordinary shares, par value $0.0001 per share, included as part of the Unit
Filing Documents
- embracechange_8k.htm (8-K) — 42KB
- embracechange_ex99-1.htm (EX-99.1) — 11KB
- 0001829126-24-004536.txt ( ) — 283KB
- cik0001869601-20240624.xsd (EX-101.SCH) — 4KB
- cik0001869601-20240624_def.xml (EX-101.DEF) — 27KB
- cik0001869601-20240624_lab.xml (EX-101.LAB) — 38KB
- cik0001869601-20240624_pre.xml (EX-101.PRE) — 26KB
- embracechange_8k_htm.xml (XML) — 8KB
01 Notice of Delisting or Failure to
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On June 24, 2024, Embrace Change Acquisition Corp. (the "Company") issued a press release announcing that it has received a letter Staff Delisting Determination (the "Staff Determination") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq"), notifying the Company of its noncompliance with Nasdaq's continued listing requirements and that unless appealed and their determination reversed, the Company's securities will be delisted from Nasdaq. The Staff Determination was issued due to the Company's failure to comply with the following Nasdaq's continued listing requirements: 1. Listing Rule 5450(a)(2), which requires a minimum of 400 total shareholders; 2. Listing Rule 5250(c)(1), due to the Company's failure to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and its Quarterly Report on Form 10-Q for the period ended March 31, 2024. According to the Staff Determination, unless the Company requested an appeal of the Staff Determination, trading of the Company's securities would be suspended on July 3, 2024, and a Form 25-NSE would be filed with the Securities and Exchange Commission, which will remove the Company's securities from listing and registration on Nasdaq. The Company timely requested a hearing before a Nasdaq Hearings Panel (the "Panel") to appeal the Staff Determination. The suspension referenced in the Staff Determination has been stayed for a period of 15 calendar days until July 16, 2024. Upon expiration of the stay period, the Company's shares will be suspended from trading unless the Panel grants an extension of the stay pending the hearing. The Company plans to present its plan to regain compliance with the applicable listing requirements and to request continued listing pending its return to compliance. The Company issued a press release announcing the receipt of
01 Financial
Item 9.01 Financial (d) Exhibits: Exhibit Description 99.1 Press Release dated June 25, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 1 SIGNATURE 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: July 1, 2024 EMBRACE CHANGE ACQUISITION CORP. By: /s/ Jingyu Wang Name: Jingyu Wang Title: Chief Executive Officer 2