Company: OBA
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075674
Chunk: 97

Company: Oxley Bridge Acquisition Ltd
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 2
Chunk 97
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 Combination within the Nasdaq 36-Month Requirement.
Any trading suspension or delisting could have a material adverse effect on the trading of our securities and may adversely affect our
ability to consummate an initial Business Combination.

Our IPO Registration Statement was declared effective
by the SEC on June 24, 2025 and our securities are currently listed on the Global Market tier of Nasdaq. Pursuant to our Amended and Restated
Articles, we have until June 26, 2027 to consummate our initial Business Combination.

Under the Nasdaq Rules, a SPAC’s Nasdaq-listed
securities will be immediately suspended from trading if the SPAC does not meet the Nasdaq 36-Month Requirement, and Nasdaq will, at such
point, commence delisting procedures. Although a SPAC can request a hearing before the hearing panel of Nasdaq (the “Hearing Panel”),
the scope of the Hearing Panel’s review is limited. If a SPAC completes a Business Combination after receiving a delisting determination
by the staff of the Listing Qualifications Department of Nasdaq (a “Staff Delisting Determination”) and/or demonstrates compliance
with all applicable initial listing requirements, the combined company can apply to list its securities on Nasdaq pursuant to the normal
application review process. The Nasdaq Rules contain a list of deficiencies that would immediately result in a Staff Delisting Determination,
which includes noncompliance with the Nasdaq 36-Month Requirement.

Accordingly, were we to amend our Amended and
Restated Articles to extend the date by which we are permitted to consummate our initial Business Combination, we would still need to
consummate our initial Business Combination on or prior to June 24, 2028 in order to avoid a suspension of our securities from trading
on and delisting from Nasdaq. If Nasdaq were to suspend our securities from trading and delist our securities, our securities could potentially
be quoted on an over-the-counter market. Even if our securities are then quoted on an over-the-counter market, our Nasdaq suspension and
delisting could have significant material adverse consequences, including:

●
making our securities appear to be less attractive to potential target companies than the securities of an exchange listed SPAC;

●
limited availability of market quotations for our securities;

●
reduced liquidity for our securities;

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●
the possibility that our Class A Ordinary Shares would be deemed “penny stock,” which will require brokers trading in our Class A Ordinary Shares