Company: BEAG
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-003594
Chunk: 95

Company: Bold Eagle Acquisition Corp.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1
Chunk 95
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2,500. We cannot assure you that we will
be able to meet those initial listing requirements at that time.

If
Nasdaq delists our securities from trading on its exchange and we are not able to list our securities on another national securities
exchange, we expect our securities could be quoted on an over-the-counter market. If this were to occur, we could face significant material
adverse consequences, including:

●a
                                            limited availability of market quotations for our securities;

●reduced
                                            liquidity for our securities;

●a
                                            determination that our Class A ordinary shares are a “penny stock” which
                                            will require brokers trading in our Class A ordinary shares to adhere to more stringent
                                            rules and possibly result in a reduced level of trading activity in the secondary trading
                                            market for our securities;

●a
                                            limited amount of news and analyst coverage; and

●a
                                            decreased ability to issue additional securities or obtain additional financing in the future.

The
National Securities Markets Improvement Act of 1996, which is a federal statute, prevents or preempts the states from regulating
the sale of certain securities, which are referred to as “covered securities.” Because our Class A ordinary shares and Eagle
Share Rights are listed on Nasdaq, our Units, Class A ordinary shares and Eagle Share Rights qualify as covered securities under
the statute. Although the states are preempted from regulating the sale of our securities, the federal statute does allow the states
to investigate companies if there is a suspicion of fraud, and, if there is a finding of fraudulent activity, then the states can regulate
or bar the sale of covered securities in a particular case. While we are not aware of a state having used these powers to prohibit or
restrict the sale of securities issued by blank check companies, other than the State of Idaho, certain state securities regulators view
blank check companies unfavorably and might use these powers, or threaten to use these powers, to hinder the sale of securities of blank
check companies in their states. Further, if we were no longer listed on Nasdaq, our securities would not qualify as covered securities
under the statute and we would be subject to regulation in each state in which we offer our securities.

45

The
nominal purchase price paid by our Sponsor for the Founder Shares may significantly dilute the implied value of your public shares in
the event we consummate an initial business combination, and our Sponsor is likely to make a substantial profit on its