Company: BEAG
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-003594
Chunk: 254

Company: Bold Eagle Acquisition Corp.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1A
Chunk 254
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 continued listing requirements, in order to continue to maintain
the listing of our securities on Nasdaq. For instance, unless we decide to list on a different Nasdaq tier such as the Nasdaq Capital
Market which has different initial listing requirements, our share price would generally be required to be at least $4.00 per share,
the market value of our listed securities would be required to be at least $75,000,000, the market value of our unrestricted publicly
held shares would be required to be at least $20,000,000 and we would be required to have a minimum of 400 round lot holders of our securities,
with at least 50% of such round lot holders holding securities with a market value of at least $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