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Investcorp AI Acquisition Corp. (NASDAQ:IVCAU), a special purpose acquisition company (SPAC), has announced that it will be delisted from The Nasdaq Stock Market LLC effective at the opening of business on May 6, 2025. The delisting comes after the company failed to comply with Nasdaq’s continued listing standard under Listing Rule 5620(a), which requires holding an annual meeting of stockholders within twelve months of the fiscal year-end.
The company was notified of its non-compliance on March 5, 2025, and subsequently submitted a plan on April 16, 2025, to regain compliance. However, on April 29, 2025, Investcorp AI Acquisition Corp. received a letter from Nasdaq stating the company’s securities would be delisted due to not completing a business combination within 36 months of its initial public offering, as required by Nasdaq Listing Rule IM-5101-2. The company’s IPO registration statement became effective on May 9, 2022, and the deadline to complete a business combination is May 9, 2025.
Following the suspension on Nasdaq, the company’s ordinary shares, units, and warrants are expected to trade on the OTC Markets under the tickers "IVCA," "IVCAU," and "IVCAW," respectively. However, there is a possibility of a limited market for these securities, which could adversely affect their trading price. The company has stated that it will remain subject to the periodic reporting requirements of the U.S. Securities Exchange Act of 1934.
Investors should note that forward-looking statements in the company’s announcement, such as the potential effects of the delisting and transfer to the OTC Market, are based on current expectations and are subject to risks and uncertainties. These statements are not guarantees of future performance, and actual outcomes may differ materially.
This article is based on a press release statement and provides an overview of the key facts regarding Investcorp AI Acquisition Corp.’s delisting from Nasdaq and its future trading on the OTC Markets.
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