Announcement • Mar 26
Oak Woods Acquisition Corp. Receives an Additional Staff Determination Letter from the Listing Qualifications Department of the Nasdaq Stock Market On March 23, 2026, Oak Woods Acquisition Corp. (the Company) received an additional staff determination letter (the Letter) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (Nasdaq). Pursuant to Nasdaq Listing Rule IM-5101-2, a special purpose acquisition company must complete one or more business combinations within 36 months of the effectiveness of its initial public offering registration statement. As the Company did not complete an initial business combination by March 23, 2026, the Company is no longer in compliance with Listing Rule IM-5101-2, and Nasdaq has determined that this deficiency serves as a basis for delisting the Company's securities from The Nasdaq Stock Market. As such, trading of the Company's Class A ordinary shares will be suspended at the opening of business on March 25, 2026 and the Company expects that Nasdaq will file a Form 25-NSE with the Securities and Exchange Commission to remove the Company's securities from listing and registration on Nasdaq. Following the suspension of trading on Nasdaq, the Company expects that its securities may be eligible to be quoted on an over-the-counter market; however, there can be no assurance that a market for the Company's securities will develop or be sustained. The Company, through its counsel, also participated in a hearing with the Nasdaq Hearing Panel with regard to the past continued listing deficiencies identified by Nasdaq and the application of Listing Rule IM-5101-2. The Company confirmed its expectation of the applicability of the delisting determination and notified Nasdaq that it intended to continue to seek to complete a business combination and re-list the Company's securities on the Nasdaq Capital Market in the future. The Company expects to promptly seek shareholder approval to extend the time for the Company to complete a business combination and to provide shareholders with the opportunity to redeem their public shares in connection therewith and will file a proxy statement with the Securities and Exchange Commission in connection with such proposals. Announcement • Feb 20
Nasdaq Hearings Panel Schedules Hearing for Oak Woods Acquisition Corporation on March 24, 2026 As previously disclosed, on February 5, 2026, Oak Woods Acquisition Corporation (the Company") received a determination letter from The Nasdaq Stock Market LLC (Nasdaq") notifying the Company that Nasdaq Listing Qualifications Staff had determined to delist the Company's securities from The Nasdaq Stock Market. The Company timely requested a hearing before the Nasdaq Hearings Panel to appeal the determination. On February 17, 2026, the Company received formal notice that a hearing before the Nasdaq Hearings Panel has been scheduled for March 24, 2026 at 12:00 p.m. Eastern Time. The hearing will be conducted via video conference. In light of applicable Nasdaq rules relating to the Company's thirty-six month window to complete its business combination from the March 23, 2023 effective date of its registration statement and the Company's intention to continue to pursue a business combination in consonance with Nasdaq's initial listing requirements, the Company expects to present its plan to comply with both applicable annual meeting and round-lot holder obligations, as well as Nasdaq's general initial and continued listing rules. Announcement • Feb 12
Oak Woods Acquisition Corporation Announces Receipt of Nasdaq Staff Delisting Determination Oak Woods Acquisition Corporation (the "Company") announced that on February 5, 2026, it received a Staff Delisting Determination letter (the "Letter") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq"). As previously disclosed, on August 8, 2025, Nasdaq notified the Company that it was not in compliance with Nasdaq Listing Rule 5550(a)(3), which requires companies listed on the Nasdaq Capital Market to maintain a minimum of 300 public holders. The Company was subsequently granted an extension until February 4, 2026 to regain compliance. In the February 5, 2026 Letter, Nasdaq determined that the Company did not satisfy the terms of the extension because it failed to evidence compliance with the minimum 300 public holders requirement. As a result, Nasdaq has determined to delist the Company's securities from The Nasdaq Stock Market. Additionally, Nasdaq noted that the Company remains non-compliant with Nasdaq Listing Rule 5620(a), which requires listed companies to hold an annual meeting of shareholders within twelve months of the end of the Company's fiscal year. Nasdaq stated that because the Company is now subject to a Staff Delisting Determination, Nasdaq is precluded under Listing Rule 5810(c)(2)(A) from reviewing any plan of compliance relating to the annual meeting deficiency. Accordingly, the annual meeting deficiency serves as an additional basis for delisting. Unless the Company timely requests a hearing before a Nasdaq Hearings Panel by 4:00 p.m. Eastern Time on February 12, 2026, trading of the Company's common shares, units, warrants, and rights will be suspended at the opening of business on February 17, 2026, and Nasdaq will file a Form 25-NSE with the Securities and Exchange Commission, which will remove the Company's securities from listing and registration on Nasdaq. The Company intends to evaluate its available options, including whether to request a hearing to appeal the Staff's determination. A timely hearing request would stay the suspension of trading and the filing of the Form 25-NSE pending the outcome of the hearing process. There can be no assurance that any appeal would be successful. 
