Oak Woods Acquisition Corp 8-K

What Happened
Oak Woods Acquisition Corp (OAKU) announced on March 24, 2026 that on March 23, 2026 it received a Nasdaq staff determination under Listing Rule IM-5101-2 finding the company non‑compliant for failing to complete a SPAC business combination within 36 months. Nasdaq determined this deficiency is a basis for delisting, and the company expects trading of its Class A ordinary shares, warrants, rights and units to be suspended at the opening of business on March 25, 2026 and for Nasdaq to file a Form 25‑NSE to remove the securities from Nasdaq.

Key Details

• Nasdaq rule cited: Listing Rule IM-5101-2 (SPACs must complete business combination within 36 months).
• Critical dates: Nasdaq determination dated March 23, 2026; expected trading suspension at open on March 25, 2026.
• Affected securities: Class A ordinary shares, warrants, rights and units.
• Company actions: Participated in a Nasdaq Hearing Panel hearing; intends to seek shareholder approval to extend the time to complete a business combination, offer redemption rights, and will file a proxy statement for those proposals. Company expects securities may be eligible for OTC quotation after suspension but makes no assurance a market will develop.

Why It Matters
For retail investors, delisting and suspension from Nasdaq can materially affect liquidity and price discovery: OAKU shares and related securities may stop trading on Nasdaq on March 25, 2026 and could move to an over‑the‑counter market with potentially lower liquidity and wider spreads. The company plans to seek shareholder approval to extend the SPAC deadline and to offer redemption rights—actions that, if approved, could give public shareholders an opportunity to redeem shares—but there is no guarantee the extension or a subsequent business combination will be approved or completed. Investors should watch the company’s forthcoming proxy statement and any trading notices for next steps and redemption procedures.