Metal Sky Star Acquisition Corporation Announces Receipt of Letter from Nasdaq Regarding Failure to Complete Initial Business Combination
April 04 2025 - 7:00AM
On April 2, 2025, Metal Sky Star Acquisition Corporation, a Cayman
Islands exempted company, (“Metal Sky Star” or the “Company”)
received a letter (the “Letter”) from the Listing Qualifications
Department of the Nasdaq Stock Market LLC (“Nasdaq”) stating that
(i) the Staff has determined that the Company’s securities will be
delisted from The Nasdaq Stock Market; (ii) trading of the
Company’s Ordinary Shares, Units, Rights, and Warrants will be
suspended at the opening of business on April 9, 2025; and (iii) a
Form 25-NSE will be filed with the Securities and Exchange
Commission (the “SEC”), which will remove the Company’s securities
from listing and registration on The Nasdaq Stock Market. 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 IPO registration statement.
Since the Company failed to complete its initial business
combination by March 31, 2025, the Company did not comply with
IM-5101-2, and its securities are now subject to delisting.
The Company will not appeal Nasdaq’s
determination to delist the Company’s securities and accordingly,
the Company’s securities will be suspended from trading on Nasdaq
at the opening of business on April 9, 2025. The Company intends to
apply for the listing of its securities on the OTC market under the
same ticker symbols after they are delisted from Nasdaq. The
Company is working diligently to complete a business combination as
soon as practicable.
The Company will remain a reporting entity under
the Securities Exchange Act of 1934, as amended, with respect to
continued disclosure of financial and operational information.
About Metal Sky Star Acquisition
Corporation
Metal Sky Star Acquisition Corporation is a
blank check company formed under the laws of the Cayman Islands for
the purpose of effecting a merger, share exchange, asset
acquisition, stock purchase, reorganization or similar business
combination with one or more businesses.
Forward Looking Statements
This press release contains statements that
constitute “forward-looking statements”. Forward-looking statements
are subject to numerous conditions, many of which are beyond the
control of the Company, including those set forth in the Risk
Factors section of the Company’s registration statement and final
prospectus for the offering filed with the SEC. Copies are
available on the SEC’s website, www.sec.gov. The Company undertakes
no obligation to update these statements for revisions or changes
after the date of this release, except as required by law.
Company Contacts:
Wenxi HeChairman and Chief Executive Officer221
River Street, 9th Floor, Hoboken, New Jersey 07030
201-721-8789Email: olivia@metalskystar.com
Metal Sky Star Acquisition (NASDAQ:MSSA)
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