공시 • Dec 04
Chenghe Acquisition I Co. Receives a Written Notice from Nasdaq Regarding Non-Compliance with Listing Rule 5450(a)(2) On November 27, 2024, Chenghe Acquisition I Co. (the ‘Company’) received a written notice (the ‘Notice’) from the Listing Qualifications Department (the ‘Staff’) of The Nasdaq Stock Market LLC (‘Nasdaq’) notifying the Company that the Company is not in compliance with Listing Rule 5450(a)(2) (the ‘Minimum Public Holders Rule’), which requires the Company to maintain a minimum of 400 total holders for continued listing on the Nasdaq Global Market. An indicator reflecting the Company’s non-compliance will be broadcast over Nasdaq’s market data dissemination network and will also be made available to third party market data providers. The Notice does not impact the listing of the Company’s securities on the Nasdaq Global Market at this time. The Notice states that the Company has 45 calendar days, or no later than January 13, 2025, to submit a plan (the ‘Compliance Plan’) to regain compliance with the Minimum Public Holders Rule. If the Company is unable to regain compliance by that date, the Company intends to submit a plan to regain compliance with the Minimum Public Holders Rule within the required timeframe. If Nasdaq accepts the Compliance Plan, Nasdaq may grant the Company an extension of up to 180 calendar days from the date of the Notice to evidence compliance with the Minimum Public Holders Rule. If Nasdaq does not accept the Compliance Plan, the Company will have the opportunity to appeal the decision in front of a Nasdaq Hearings Panel. However, there can be no assurance that such an appeal would be successful. The Company, by filing this Current Report Form 8-K, discloses its receipt of the Notice in accordance with Nasdaq Listing Rule 5810(b). The Company intends to monitor its total holders between now and January 13, 2025, and may, if necessary or appropriate, evaluate available options to resolve the deficiency under and regain compliance with the Minimum Public Holders Rule. However, there can be no assurance that the Company will be able to regain or maintain compliance with Nasdaq listing criteria. 공시 • May 17
Chenghe Acquisition I Co. announced delayed 10-Q filing On 05/15/2024, Chenghe Acquisition I Co. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. 공시 • Apr 02
Chenghe Acquisition I Co. announced delayed annual 10-K filing On 04/01/2024, Chenghe Acquisition I Co. announced that they will be unable to file their next 10-K by the deadline required by the SEC. New Risk • Feb 23
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Shares are highly illiquid. Negative equity (-US$686k). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (US$80.3m market cap). Board Change • Feb 17
High number of new and inexperienced directors There are 12 new directors who have joined the board in the last 3 years. The company's board is composed of: 12 new directors. No experienced directors. No highly experienced directors. Independent Director Michael McGuinness is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. 공시 • Dec 27
Chenghe Acquisition I Co. Receives Nasdaq Notice Regarding Late Form 10-Q Filings Chenghe Acquisition I Co. (the ‘Company’) announced that on December 22, 2023, it received a written notice from the Listing Qualifications Department (the ‘Staff’) of The Nasdaq Stock Market LLC (‘Nasdaq’) notifying the Company that because it has not yet filed its Form 10-Q for the period ended June 30, 2023 (the ‘June 2023 Filing’) and Form 10-Q for the period ended September 30, 2023 (the ‘September 2023 Filing’, together with the June 2023 Filing, the ‘Filings’) with the Securities Exchange Commission (the ‘SEC’), it no longer complies with Listing Rule 5250(c)(1) of Nasdaq's Listing Rules (the ‘Rules’) for continued listing. Under the Rules, the Company now has 60 calendar days to submit a plan to regain compliance and if Nasdaq accepts the Company's plan, Nasdaq can grant an exception of up to 180 calendar days from the June 2023 Filing's due date, or until February 20, 2024, to regain compliance. The Staff noted that the Company's 60 day submission date coincides with the maximum exception date of February 20, 2024. As previously disclosed by the Company in a Notification of Late Filing on Form 12b-25 filed with the SEC on August 16, 2023, and a Notification of Late Filing on Form 12b-25 filed with the SEC on November 14, 2023, the Company was unable to file the Filings by their respective original deadline without unreasonable effort or expense due to the fact that the Company required additional time to complete its financial statements included in the respective Filings. The Company intends to regain compliance with the Rules by making the Filings with the SEC as soon as possible. 
