Oak Woods Acquisition Corporation's Compliance Notification from Nasdaq
New York, 2025 -- Oak Woods Acquisition Corporation (NASDAQ: OAKU) has recently shared important news regarding a notification received from Nasdaq pertaining to a delayed filing of its Annual Report on Form 10-K for the fiscal year ended December 31, 2024. In a letter dated April 24, 2025, Nasdaq informed the company that it was not in compliance with Listing Rule 5250(c)(1), which mandates timely submission of periodic financial reports to the U.S. Securities and Exchange Commission (the SEC). Fortunately, this notification does not affect the company's current day trading or listing status on the Nasdaq market.
Understanding the Notification and Next Steps
The notice issued by Nasdaq allows Oak Woods Acquisition Corporation a 60-day window to submit a compliance plan aimed at rectifying the situation. If Nasdaq evaluates and approves this plan, the company may receive an extension of up to 180 calendar days from the original due date of the Annual Report, pushing the deadline to October 13, 2025. This time frame provides Oak Woods with a critical opportunity to align with the necessary compliance standards and ensure their financial operations are in accordance with Nasdaq’s requirements.
Current Progress on the Annual Report
As of now, the company is making progress in completing the audit of its financial statements for 2024. Despite the delay in filing, it is actively cooperating with its independent registered public accounting firm to finalize the audit review process. Importantly, the company has indicated that the postponement was not a result of any disagreements with its auditors, suggesting a collaborative effort to resolve outstanding issues efficiently.
About Oak Woods Acquisition Corporation
Founded as a blank check company, Oak Woods Acquisition Corporation focuses on forming strategic mergers or combinations with businesses or entities. The company has been proactive in seeking growth and opportunity. Recently, it entered into a definitive merger agreement with Huajin (China) Holdings Limited. This merger agreement has undergone several amendments to extend deadlines for completion, with the most recent adjustment aimed to facilitate a successful business combination by September 28, 2025.
Details on Strategic Agreements
On March 26, 2025, Oak Woods gained shareholder approval at the Extraordinary General Meeting, allowing an extension of the business combination deadline from March 28, 2025, to September 28, 2025, with specific financial commitments for potential future extensions. This decision highlights the company’s commitment to achieving a successful integration process and demonstrates accountability to their shareholders.
Looking Forward
As Oak Woods Acquisition Corporation navigates these compliance challenges, the management remains focused on their strategic planning and maintaining transparent communication with shareholders and stakeholders alike. The company's leadership continues to emphasize the importance of adherence to regulatory obligations, ensuring that their operations align with market expectations while looking out for future growth opportunities.
Company Contact Information
For further inquiries or details regarding the company's operations, investors and interested parties are encouraged to reach out directly to:
Lixin Zheng
Chief Executive Officer
Oak Woods Acquisition Corporation
(+1) 403-561-7750
Frequently Asked Questions
What triggered the Nasdaq notification?
The notification was initiated due to the delayed filing of Oak Woods Acquisition Corporation's Annual Report on Form 10-K.
How long does the company have to comply?
The company has 60 calendar days to submit a compliance plan, and if accepted, could gain an extension up to 180 days.
What is the status of the audit process?
The company is currently finalizing the audit review of its financial statements and maintains that delays are not linked to auditor disagreements.
When is the new compliance date?
If the plan is approved, the compliance date could be as extended as October 13, 2025.
Who should be contacted for more information?
Inquiries can be directed to Lixin Zheng, the Chief Executive Officer, via the provided contact information.
