Company: APACU
Filing Date: 2025-09-09
Form Type: S-1/A
Source: 0001829126-25-007247
Chunk: 176

Company: StoneBridge Acquisition II Corp
Filing Date: 2025-09-09
Form: S-1/A
Chunk 176
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 DigiAsia no longer met the Nasdaq continued listing requirement under Nasdaq Listing Rule 5550(b)(2), to maintain a minimum Market Value of Listed Securities of $35 million. Nasdaq provided DigiAsia with 180 calendar days, or until October 20, 2025, to regain compliance with the Nasdaq continued listing requirement. In the event that DigiAsia does not regain compliance by such date, Nasdaq will provide notice that DigiAsia’s securities will be subject to delisting. In that event, DigiAsia may appeal such determination to a hearing panel.

On May 16, 2025, DigiAsia received a letter from the Nasdaq Stock Market LLC notifying DigiAsia that it was not in compliance with Nasdaq Listing Rule 5250(c)(1) due to its failure to file its Annual Report on Form 20-F for the period ended December 31, 2024. As a result of DigiAsia’s previous deficiency with respect to its interim report for the six months ended June 30, 2024, any further exception to allow DigiAsia to regain compliance with all delinquent filings will be limited to a maximum of 180 calendar days from the due date of the previous delinquent filing for DigiAsia’s interim report for the six months ended June 30, 2024, or June 30, 2025.

On July 1, 2025, DigiAsia received a letter from the Nasdaq Stock Market LLC notifying DigiAsia that the Nasdaq Stock Market LLC has determined to delist DigiAsia’s securities from Nasdaq. The determination was made as a result of DigiAsia’s failure to regain compliance with Nasdaq Listing Rule 5550(a)(2), which requires listed securities to maintain a minimum bid price of $1.00 per share, and DigiAsia’s failure to comply with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of periodic reports with the SEC. DigiAsia had been previously notified on December 16, 2024 that it was not in compliance with Nasdaq Listing Rule 5550(a)(2), and on May 16, 2025 that it was not in compliance with Nasdaq Listing Rule 5250(c)(1). On July 3, 2025, DigiAsia requested a hearing before the Nasdaq Hearings Panel to appeal the delisting determination, which hearing request stayed the suspension of DigiAsia’s securities