AGBA Acquisition Limited in a regulatory filing said it has requested a hearing with Nasdaq staff to suspend temporarily its imminent delisting from the market.
The SPAC faces delisting May 25 for non-compliance of the Nasdaq rule that requires SPACs to close a deal within 36 months of their IPO. AGBA’s IPO was back in May 2019.
The SPAC’s request for a hearing halts any delisting action pending the outcome of the hearing.
AGBA last week won shareholder approval for a 7th deadline extension — until Aug. 16. The SPAC has a merger agreement in place with TAG Holdings Limited, which is engaged in B2B and fintech through its subsidiaries. The transaction is an all-stock deal with an enterprise value of $555 million. Read more.
