Announcement • Jun 18
Feutune Light Acquisition Receives Written Notice from Nasdaq Regarding Non-Compliance with Minimum of $50 Million Market Value of Listed Securities Requirement for Continued Listing on the Nasdaq Global Market On June 14, 2024, Feutune Light Acquisition Corporation (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, for the period from March 19 through April 30, 2024, the Company’s Market Value of Listed Securities (‘MVLS’) was below the minimum of $50 million required for continued listing on The Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(b)(2)(A) (the ‘Market Value Standard’). The Staff also noted that the Company does not meet the requirements under Nasdaq Listing Rule 5450(b)(3)(A) (the ‘Total Assets/Total Revenue Standard’). An indicator will be displayed with quotation information related to the Company’s securities on NASDAQ.com and NASDAQTrader.com and may be displayed by other third-party providers of market data information, however, the Notice does not impact the listing of the Company’s securities on The Nasdaq Global Market at this time. The Notice provided that, in accordance with Nasdaq Listing Rule 5810(c)(3)(C) (the ‘Compliance Period Rule’), the Company has a period of 180 calendar days from the date of the Notice, or until December 11, 2024 (the ‘Compliance Date’), to regain compliance with the Market Value Standard. During this period, the Company’s securities will continue to trade on The Nasdaq Global Market. If at any time before the Compliance Date the Company’s MVLS closes at or above $50 million for a minimum of 10 consecutive business days as required under the Compliance Period Rule, the Staff will provide written notification to the Company that it has regained compliance with the Market Value Standard and will close the matter. If the Company does not regain compliance with the Market Value Standard by the Compliance Date, the Staff will provide a written notification to the Company that its securities are subject to delisting. At that time, the Company may appeal the Staff’s delisting determination to a Hearings Panel (the ‘Panel’). However, there can be no assurance that, if the Company receives a delisting notice and appeals the delisting determination by the Staff to the Panel, such appeal would be successful. The Company intends to monitor its MVLS between now and the Compliance Date, and may, if appropriate, evaluate available options to resolve the deficiency under the Market Value Standard and regain compliance with the Market Value Standard. However, there can be no assurance that the Company will be able to regain or maintain compliance with Nasdaq listing criteria. Announcement • May 12
Nasdaq Determines to Grant Feutune Light Acquisition an Extension of Time Through September 16, 2024 to Regain Compliance with the Minimum Holders Rule As previously disclosed, on March 18, 2024, Feutune Light Acquisition Corporation (FLFV) received a written notice from the listing qualifications department staff of The Nasdaq Stock Market notifying FLFV that the FLFV was not in compliance with Listing Rule 5450(a)(2), which requires FLFV to have at least 400 total holders for continued listing on the Nasdaq Global Market. The Notice is only a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of the FLFV’s securities on the Nasdaq Global Market. The Notice states that FLFV has 45 calendar days to submit a plan to regain compliance with the Minimum Holders Rule, and FLFV submitted the said plan on May 1, 2024. On May 7, 2024, based on the review of the materials submitted by the Company, FLFV received a notification letter from Nasdaq that the staff had determined to grant the Company an extension of time through September 16, 2024 to regain compliance with the Minimum Holders Rule. Announcement • Feb 22
Feutune Light Acquisition Corporation announced that it has received $0.1 million in funding Feutune Light Acquisition Corporation announced that it has entered into private placement of a unsecured promissory note in the principal amount of $100,000 in connection with the January monthly extension on February 21, 2024. The transaction will include participation from returning lender Thunder Power Holdings Limited. The Note bears no interest and is payable in full upon the earlier to occur of the consummation of the company’s business combination and the date of expiry of the term of the company. The payees of the note, the sponsor, has the right, but not the obligation, to convert the promissory note, in whole or in part, respectively, into private units of the company that are identical to public units of the company which are subject to certain exceptions. The issuance of the note was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended. 
