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. 공시 • Nov 15
Chenghe Acquisition I Co. announced delayed 10-Q filing On 11/14/2023, Chenghe Acquisition I Co. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. 공시 • Aug 18
LatAmGrowth SPAC announced delayed 10-Q filing On 08/16/2023, LatAmGrowth SPAC announced that they will be unable to file their next 10-Q by the deadline required by the SEC. New Risk • Jun 12
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$94.7m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Negative equity (-US$5.1m). Revenue is less than US$1m. Minor Risks Less than 3 years of financial data is available. Market cap is less than US$100m (US$94.7m market cap). 공시 • May 31
LatAmGrowth SPAC Receives NASDAQ Notification of Non-Compliance with Listing Rule 5250(c)(1) On May 30, 2023, LatAmGrowth SPAC announced that on May 24, 2023, it received a letter from the Listing Qualifications Department of the Nasdaq Stock Market (‘Nasdaq’) stating that it was not in compliance with Nasdaq Listing Rule 5250(c)(1) as a result of it not having timely filed its Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 (the ‘2023 First Quarter 10-Q’) with the Securities and Exchange Commission (‘SEC’). The Nasdaq notification letter provides the Company with 60 calendar days, or until July 24, 2023, to submit to Nasdaq a plan to regain compliance in accordance with Nasdaq's listing requirements. If the Company's plan is accepted, Nasdaq may grant the Company up to 180 days, or until November 20, 2023, for the Company to regain compliance. If Nasdaq does not accept the Company's plan, the Company will have the opportunity to appeal that decision to a Nasdaq Hearings Pane under Nasdaq Listing Rule 5815(a). The Nasdaq notification letter has no immediate effect on the listing of the Company's common stock on the NASDAQ Capital Market. The Company does not currently expect submission of a compliance plan will be necessary as it anticipates filing its 2023 First Quarter 10-Q prior to the expiration of the 60 day period. The Company anticipates that it will fully regain compliance with the NASDAQ continued listing requirements upon such filing of its 2023 First Quarter 10-Q. 공시 • May 16
LatAmGrowth SPAC announced delayed 10-Q filing On 05/15/2023, LatAmGrowth SPAC announced that they will be unable to file their next 10-Q by the deadline required by the SEC. 공시 • May 17
LatAmGrowth SPAC announced delayed 10-Q filing On 05/16/2022, LatAmGrowth SPAC announced that they will be unable to file their next 10-Q by the deadline required by the SEC. 공시 • Apr 03
LatAmGrowth SPAC announced delayed annual 10-K filing On 04/01/2022, LatAmGrowth SPAC announced that they will be unable to file their next 10-K by the deadline required by the SEC.