Compliance Notification from Nasdaq
Recently, Oak Woods Acquisition Corporation (NASDAQ: OAKU) received a notification from Nasdaq indicating a delay in their Quarterly Report on Form 10-Q, which was due on March 31, 2025. This communication was issued on May 27, 2025, and serves as a reminder for the importance of timely financial reporting for listed companies.
Understanding Nasdaq Listing Rules
According to Nasdaq Listing Rule 5250(c)(1), companies must submit their periodic financial reports promptly to the U.S. Securities and Exchange Commission (SEC). The notice received does not affect the current listing status of Oak Woods Acquisition on the Nasdaq Capital Market, providing some reassurance to investors and stakeholders.
Action Plan for Compliance
Following the notification, Oak Woods has a period of 60 calendar days to submit a compliance plan to Nasdaq. If this plan is accepted, the company may receive an extension of up to 180 calendar days from the report’s original due date, pushing the deadline to November 17, 2025.
Current Status of the 10-Q Filing
The team at Oak Woods is diligently finalizing the 10-Q report, collaborating closely with their independent registered public accounting firm to expedite the completion of the remaining audit processes. Importantly, the delay is not attributed to any disputes with their auditors, indicating a proactive approach to resolving the matter.
About Oak Woods Acquisition Corporation
Oak Woods Acquisition Corporation operates as a blank check company. Its primary function is to facilitate a merger, capital stock exchange, asset acquisition, or a similar combination with businesses or entities. Recently, the company has been involved in a significant merger agreement, which highlights its strategic plans and operational growth.
Details of the Merger Agreement
On August 11, 2023, Oak Woods announced its merger agreement with Huajin (China) Holdings Limited and its wholly-owned subsidiary, Oak Woods Merger Sub, Inc. This strategic partnership aims to leverage synergies for enhanced growth and operational efficiency.
Recent Developments in Business Combination Timeline
Throughout its journey, Oak Woods has amended its business combination timeline multiple times. Following shareholder approval, the deadline for completing the initial business combination has been pushed to September 28, 2025, reflecting the company’s commitment to thorough and responsible planning.
Financial Extensions and Support
As part of its business strategy, Oak Woods recently deposited $172,500 into its Trust Account to extend the window for completing the business merger, showcasing financial prudence and strategic foresight. This move ensures that the company remains on track and is prepared for any necessary additional extensions.
Contact Information
For more information, individuals can reach out to:
Lixin Zheng
Chief Executive Officer
Oak Woods Acquisition Corporation
(+1) 403-561-7750
Frequently Asked Questions
What does the notification from Nasdaq imply?
The notification indicates that Oak Woods Acquisition Corporation needs to address a delay in filing its financial report to remain in compliance with Nasdaq rules.
How long does Oak Woods have to comply with Nasdaq?
Oak Woods has 60 calendar days from receiving the notice to submit a plan for regaining compliance, with the potential for an extension of up to 180 days.
What is the status of the 10-Q report?
The company is currently finalizing its 10-Q report and is working with auditors to complete the processes necessary for filing.
What is the significance of the merger agreement?
This agreement signifies Oak Woods’ plans for growth and expansion through strategic partnerships, allowing it to combine resources with Huajin (China) Holdings Limited.
How has the company prepared for the delay in filing?
Oak Woods has taken proactive steps by depositing funds into its Trust Account, ensuring that it can extend its timelines and effectively manage its merger process.
