Company: RENEF
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001410578-25-001350
Chunk: 4

Company: Cartesian Growth Corp II
Filing Date: 2025-05-15
Form: 10-Q
Item: Part II, Item 1L
Chunk 4
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Item 1. Legal Proceedings

None.

Item 1A. Risk Factors

Factors that could cause our actual results to differ materially from those in this Quarterly Report are any of the risks described in our 2024 Annual Report and below. Any of these factors could result in a significant or material adverse effect on our results of operations or financial condition. Additional risk factors not presently known to us or that we currently deem immaterial may also impair our business or results of operations. As of the date of this Quarterly Report, there have been no material changes to the risk factors disclosed in our 2024 Annual Report and below, except we may disclose changes to such factors or disclose additional factors from time to time in our future filings with the SEC.

Nasdaq delisted our securities from trading on its exchange, which could limit investors’ ability to make transactions in our securities and subject us to additional trading restrictions.

On May 6, 2025, we received written notice from the Listing Qualifications Department of Nasdaq indicating that our Class A ordinary shares, warrants and units would be subject to suspension and delisting from Nasdaq at the opening of business on May 13, 2025 due to our non-compliance with Nasdaq Listing Rule IM-5101-2, which requires us to complete a business combination within 36 months of the effectiveness of our initial public offering registration statement. We did not appeal Nasdaq’s determination to delist our securities and accordingly, our securities will be suspended from trading on Nasdaq at the opening of business on May 13, 2025. We expect our securities to be quoted on the over-the-counter market following delisting from Nasdaq. As a result, 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.” If our units, Class A ordinary shares and warrants were listed on Nasdaq, our