Embrace Change Acquisition Corp. Faces Delisting Concerns
Ticker: EMCUF · Form: 8-K · Filed: Sep 9, 2024 · CIK: 1869601
| Field | Detail |
|---|---|
| Company | Embrace Change Acquisition CORP. (EMCUF) |
| Form Type | 8-K |
| Filed Date | Sep 9, 2024 |
| Risk Level | high |
| Pages | 2 |
| 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. (ECAC) might get delisted - big trouble for shareholders.
AI Summary
Embrace Change Acquisition Corp. filed an 8-K on September 5, 2024, reporting a notice of delisting or failure to satisfy continued listing rules. The company, incorporated in Delaware with its principal executive offices in San Diego, CA, is a blank check company focused on real estate and construction. This filing indicates potential issues with its listing status on the stock exchange.
Why It Matters
This filing signals potential financial distress or non-compliance with exchange rules, which could lead to the company's stock being delisted, impacting investors.
Risk Assessment
Risk Level: high — A notice of delisting directly threatens the company's ability to trade on a major exchange, posing a significant risk to investors.
Key Players & Entities
- Embrace Change Acquisition Corp. (company) — Registrant
- September 5, 2024 (date) — Date of Report
- San Diego, CA (location) — Business Address
- 6770 (sic_code) — Blank Checks
FAQ
What specific rule or standard has Embrace Change Acquisition 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 which rule was violated 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 September 5, 2024.
Where are Embrace Change Acquisition Corp.'s principal executive offices located?
The company's business and mailing address is 5186 Carroll Canyon Rd, San Diego, CA 92121.
What is the Standard Industrial Classification (SIC) code for Embrace Change Acquisition Corp.?
The SIC code listed is 6770, which corresponds to 'Blank Checks'.
What is the SEC file number for Embrace Change Acquisition Corp.?
The SEC file number is 001-41397.
Filing Stats: 686 words · 3 min read · ~2 pages · Grade level 12.5 · Accepted 2024-09-09 16:30:19
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
- embracechangeacq_8k.htm (8-K) — 40KB
- embracechangeacq_ex99-1.htm (EX-99.1) — 5KB
- 0001829126-24-006180.txt ( ) — 274KB
- cik0001869601-20240905.xsd (EX-101.SCH) — 4KB
- cik0001869601-20240905_def.xml (EX-101.DEF) — 27KB
- cik0001869601-20240905_lab.xml (EX-101.LAB) — 38KB
- cik0001869601-20240905_pre.xml (EX-101.PRE) — 26KB
- embracechangeacq_8k_htm.xml (XML) — 8KB
01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On September 5, 2024, Embrace Change Acquisition Corp. (the "Company") received a delisting determination letter (the "Letter") from the Listing Qualifications Department (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") advising the Company that the Company is delinquent in filing its Form 10-Q for the period ended June 30, 2024 and this matter serves as an additional basis for delisting the Company's securities for The Nasdaq Stock Market. The failure to timely file the 10-Q is a violation of Nasdaq Listing Rule 5250(c)(1). The Company is actively working to complete and file the delayed Form 10-Q. In accordance with the timeline established previously by the Nasdaq hearings panel, the Company aims to regain compliance with Nasdaq's listing requirements by September 30, 2024, by completing all required filings.
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On September 7, 2024, the Company issued a press release, a copy of which is attached as Exhibit 99.1 to this Current Report on Form 8-K, announcing the receipt of the Letter from Nasdaq. The information in this Item 7.01, including Exhibit 99.1, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits: Exhibit Description 99.1 Press Release dated September 7, 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: September 9, 2024 EMBRACE CHANGE ACQUISITION CORP. By: /s/ Jingyu Wang Name: Jingyu Wang Title: Chief Executive Officer 2