Company: APACU
Filing Date: 2025-08-01
Form Type: S-1/A
Source: 0001829126-25-005702
Chunk: 182

Company: StoneBridge Acquisition II Corp
Filing Date: 2025-08-01
Form: S-1/A
Chunk 182
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 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 pending the Nasdaq Hearings Panel’s decision. The hearing is scheduled for August 15, 2025.

On August 27, 2024, our sponsor paid $25,000, or approximately $0.004 per share, to cover certain of our offering costs in exchange for 5,750,000 founder shares (up to 750,000 of which were subject to forfeiture depending on the extent to which the underwriter’s over-allotment option in this offering was exercised). Subsequently, in connection with a reduction in the size of this offering, on April 21, 2025, the 5,750,000 founder shares owned by our sponsor was adjusted, for no additional consideration, to 1,916,667 founder shares (up to 250,000 of which were subject to forfeiture depending on the extent to which the underwriter’s over-allotment option in this offering was exercised). On August