Chenghe Acquisition I Receives Notice of Listing Non-Compliance from Nasdaq

Chenghe Acquisition I Co. (NASDAQ: LATG) recently disclosed in an 8-K filing with the Securities and Exchange Commission that the company received a Notice of non-compliance with Listing Rule 5450(a)(2) from The Nasdaq Stock Market LLC on November 27, 2024. The Rule requires companies to maintain a minimum of 400 total holders for continued listing on the Nasdaq Global Market.

According to the Notice, Chenghe Acquisition I has 45 calendar days, until January 13, 2025, to submit a plan (the “Compliance Plan”) to regain compliance with the Minimum Public Holders Rule. If compliance is not achieved by the specified date, the company plans to submit a plan within the outlined timeframe. Nasdaq may grant an extension of up to 180 calendar days for compliance if the plan is accepted. However, there exists the possibility of an appeal if the Compliance Plan is not accepted, without assured success.

The Company emphasized its commitment to monitor the total holders diligently and explore available options to rectify the deficiency and comply with Nasdaq listing regulations. Despite these efforts, there is no guarantee that the company will be successful in maintaining compliance with Nasdaq’s standards.

Forward-looking statements included in the 8-K filing shed light on potential risks impacting future events. The Company acknowledged the uncertainty associated with its ability to appeal a delisting determination, resolve compliance issues with the Minimum Public Holders Rule, or transfer the listing of its securities to the Nasdaq Capital Market.

Chenghe Acquisition I emphasized the importance of complying with Nasdaq regulations and highlighted its dedication to evaluating options to address the deficiency. The Company underlined that factors beyond its control could pose challenges towards achieving desired outcomes. Investors and stakeholders are advised to consider the inherent risks and uncertainties described in the Company’s previous filings with the Securities and Exchange Commission.

The Company refrained from guaranteeing future performance and stated that forward-looking statements are subject to various known and unknown risks. Chenghe Acquisition I stressed that these statements should be interpreted in consideration of the unpredictable nature of factors that could impact actual results.

The 8-K report by Chenghe Acquisition I provides insights into the company’s commitment to addressing listing compliance issues while navigating potential risks to ensure sustained growth and regulatory adherence.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Chenghe Acquisition I’s 8K filing here.

Chenghe Acquisition I Company Profile

Chenghe Acquisition I Co does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. It intends to focus search for an initial business combination in the TMT, green energy, biotechnology, optoelectronics, and other sectors in the Asia Pacific.