Source: Investing Published 06/08/2024, 00:39
IX Acquisition Corp., a Cayman Islands-based telecommunications services company, has successfully regained compliance with Nasdaq listing requirements, according to its latest 8-K filing with the U.S. Securities and Exchange Commission. The company, which trades under the symbols NASDAQ:IXAQ for its Class A common stock, NASDAQ:IXAQU for its units, and NASDAQ:IXAQW for its redeemable warrants, had faced potential delisting due to a lack of the total number of shareholders required to continue listing on the Nasdaq Global Market. The issue arose on October 9, 2023, when Nasdaq notified IX Acquisition Corp. that it did not meet the minimum aggregate shareholder rule, which requires at least 400 aggregate shareholders to continue listing. The company was given until April 8, 2024, to address the deficiency. However, as of April 30, 2024, the company had not regained compliance, prompting Nasdaq to issue a notice of potential suspension and delisting.
In response, IX Acquisition Corp. requested a hearing before the Nasdaq Hearings Committee, which was held on June 18, 2024. On Monday, the committee confirmed the company’s compliance with the listing rule, allowing its securities to continue trading on the Nasdaq Global Market.
