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Oak Woods Acquisition Corporation (NASDAQ:OAKU) announced Thursday that it received a notice from the Nasdaq Stock Market stating the company no longer meets the minimum 300 public holders requirement for continued listing on the Nasdaq Capital Market. The notice was received on August 8.
According to the company’s statement, which is based on a Securities and Exchange Commission filing, Oak Woods Acquisition now has 45 calendar days, until September 22, to submit a plan to regain compliance with Nasdaq Listing Rule 5550(a)(3). If the plan is accepted, Nasdaq may grant the company an extension of up to 180 calendar days from the date of the notice to meet the requirement.
The company said the notice does not have an immediate effect on the listing or trading of its securities, which include its Class A ordinary shares, rights, and warrants, all trading on the Nasdaq Stock Market under the symbols OAKU, OAKUR, and OAKUW, respectively.
Oak Woods Acquisition is incorporated in the Cayman Islands and is classified under miscellaneous health and allied services. The company’s principal executive offices are located in Nepean, Ontario, Canada.
Oak Woods Acquisition stated it is evaluating its options to regain compliance within the required timeframe. The company remains subject to Nasdaq’s continued listing requirements.
This information is based on a statement issued in a Securities and Exchange Commission filing.
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