Bellevue Life Sciences Faces Delisting, Board Changes
Ticker: OSRHW · Form: 8-K · Filed: Jun 13, 2024 · CIK: 1840425
| Field | Detail |
|---|---|
| Company | Bellevue Life Sciences Acquisition Corp. (OSRHW) |
| Form Type | 8-K |
| Filed Date | Jun 13, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $11.50, $50,000 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, board-changes, listing-rule
Related Tickers: BLSC
TL;DR
BLSC might get delisted, board is changing.
AI Summary
Bellevue Life Sciences Acquisition Corp. filed an 8-K on June 13, 2024, reporting a departure of directors and officers, election of new directors, and appointment of new officers. The filing also addresses a notice of delisting or failure to satisfy continued listing rules, indicating potential issues with maintaining its listing on the stock exchange.
Why It Matters
This filing signals potential financial distress or non-compliance with exchange rules, which could lead to delisting and significantly impact shareholder value.
Risk Assessment
Risk Level: high — The company is facing potential delisting, which is a severe indicator of financial or operational difficulties.
Key Players & Entities
- Bellevue Life Sciences Acquisition Corp. (company) — Filer of the 8-K report
- June 7, 2024 (date) — Earliest event reported date
- June 13, 2024 (date) — Date of report filing
FAQ
What specific rule or standard has Bellevue Life Sciences Acquisition Corp. failed to satisfy, leading to the notice of delisting?
The filing does not specify the exact rule or standard that has not been satisfied, only that a notice of delisting or failure to satisfy a continued listing rule or standard has been issued.
Who are the directors or officers that have departed from Bellevue Life Sciences Acquisition Corp.?
The filing indicates a departure of directors or certain officers but does not name the specific individuals involved.
Who are the newly elected directors or appointed officers at Bellevue Life Sciences Acquisition Corp.?
The filing mentions the election of directors and appointment of officers but does not provide their names.
What is the significance of the 'Transfer of Listing' mentioned in the filing?
The filing mentions 'Transfer of Listing' alongside 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard,' suggesting a potential move to another exchange or a process related to maintaining its current listing, but details are not provided.
What is the company's SIC code and what industry does it belong to?
The company's SIC code is 3841, which corresponds to 'Surgical & Medical Instruments & Apparatus'.
Filing Stats: 720 words · 3 min read · ~2 pages · Grade level 11.7 · Accepted 2024-06-13 16:21:06
Key Financial Figures
- $0.0001 — ck Market LLC Common stock, par value $0.0001 per share BLAC The Nasdaq Stock Mar
- $11.50 — of common stock at an exercise price of $11.50 per share BLACW The Nasdaq Stock Ma
- $50,000 — a contribution payment in the amount of $50,000 was deposited in the trust account. S
Filing Documents
- d839776d8k.htm (8-K) — 31KB
- 0001193125-24-160727.txt ( ) — 209KB
- blacu-20240607.xsd (EX-101.SCH) — 5KB
- blacu-20240607_def.xml (EX-101.DEF) — 15KB
- blacu-20240607_lab.xml (EX-101.LAB) — 26KB
- blacu-20240607_pre.xml (EX-101.PRE) — 16KB
- d839776d8k_htm.xml (XML) — 9KB
From the Filing
8-K UNITED STATES 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): June 7, 2024 BELLEVUE LIFE SCIENCES ACQUISITION CORP. (Exact Name of Registrant as Specified in Charter) Delaware 001-41390 84-5052822 (State or Other Jurisdiction (Commission (IRS Employer of Incorporation) File Number) Identification No.) 10900 NE 4th Street , Suite 2300 , Bellevue , WA 98004 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code (425) 635-7700 Not Applicable (Former Name or Former Address, if Changed Since Last Report) 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 share of common stock, one redeemable warrant and one right BLACU The Nasdaq Stock Market LLC Common stock, par value $0.0001 per share BLAC The Nasdaq Stock Market LLC Redeemable warrants, exercisable for shares of common stock at an exercise price of $11.50 per share BLACW The Nasdaq Stock Market LLC Right to receive one-tenth (1/10) of one share of common stock BLACR 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. Item3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. To the extent required, the information set forth below in Item 5.02 of this Current Report on Form 8-K is incorporated herein by reference in its entirety. Item5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers On June 7, 2024, Inchul Chung provided notice of his resignation as a member of the Board of Directors (the "Board") of Bellevue Life Sciences Acquisition Corp. (the "Company") and as a member of the Board's Audit Committee (the "Audit Committee"). Mr. Chung's resignation took immediate effect and was not the result of any dispute or disagreement with the Company on any matter relating to its operations, policies or practices. On June 7, 2024, Radclyffe Roberts also provided notice of his resignation as member of the Board and as a member of the Board's Compensation Committee (the "Compensation Committee") as well as a member and chair of the Board's M&A Committee. Mr. Robert's resignation took immediate effect and was not the result of any dispute or disagreement with the Company on any matter relating to its operations, policies or practices. Due to the resignations of Mr. Chung and Mr. Roberts, the Company notified the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") on June 13, 2024 that the Company is not currently in compliance with Nasdaq's majority independent board, compensation committee composition and audit committee composition requirements as described in Nasdaq Listing Rules 5605(b)(1), 5605(d)(2)(A) and 5605(c)(2)(A), respectively. The Company intends to regain compliance within the cure period provided by Listing Rules 5605(b)(1)(A), 5605(d)(4) and 5605(c)(4)(B). Item8.01. Other Events. On June 13, 2024, a contribution payment in the amount of $50,000 was deposited in the trust account. 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: June 13, 2024 BELLEVUE LIFE SCIENCES ACQUISITION CORP. By: /s/ Kuk Hyoun Hwang Name: Kuk Hyoun Hwang Title: Chief Executive Officer