Insight Acquisition Corp.

10/03/2024 | Press release | Distributed by Public on 10/03/2024 04:01

Failure to Satisfy Listing Rule Form 8 K

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing rule or Standard; Transfer of Listing.

Insight Acquisition Corp., a Delaware corporation (the "Company"), received a notice, dated September 27, 2024 (the "Notice") from the Nasdaq Stock Market LLC ("Nasdaq"), stating that the Company's did not comply with Nasdaq Interpretive Material IM-5101-2, and that its securities are now subject to delisting.

The Company's registration statement filed in connection with the Company's IPO became effective on September 1, 2021. Pursuant to IM-5101-2, the Company, a special purpose acquisition company, must complete one or more business combinations within 36 months of the effectiveness of its IPO registration statement. Since the Company failed to complete its initial business combination by September 1, 2024, the Company did not comply with IM-5101-2, and its securities are now subject to delisting.

Unless the Company requests an appeal of this determination by October 4, 2024, trading of the Company's securities will be suspended at the opening of business on October 8, 2024, and a Form 25-NSE will be filed with the Securities and Exchange Commission (the "SEC"), which will remove the Company's securities from listing and registration on The Nasdaq Stock Market.

The Company plans to request an appeal of the determination contained in the Notice.