Atlantic Coastal Acquisition Corp. II Receives Delisting Notice from Nasdaq

Atlantic Coastal Acquisition Corp. II (NASDAQ: ACABU) recently disclosed in an 8-K filing that it has received a delisting determination letter from the Nasdaq Stock Market LLC (“Nasdaq”). The letter, dated October 16, 2024, stated that the company failed to regain compliance with Nasdaq listing rules by the specified deadline.

The delisting notice is a result of Atlantic Coastal Acquisition Corp. II’s failure to meet the Nasdaq Deficiencies, including maintaining a minimum market value of publicly held shares and the required number of unrestricted holders for its listed securities. Despite being granted a compliance period to rectify these deficiencies, the company was unable to do so by the designated timeline.

In response to the delisting determination, Atlantic Coastal Acquisition Corp. II intends to request a hearing before a Nasdaq Hearing Panel by October 23, 2024. By requesting a hearing, the company aims to delay any potential suspension or delisting until the conclusion of the hearing process.

Additionally, the company, by resolution of its board of directors, has extended the expiration date for completing a business combination from October 19, 2024, to November 19, 2024. Furthermore, on October 18, 2024, Atlantic Coastal Acquisition Corp. II’s Registration Statement on Form S-4 concerning the proposed business combination with Abpro Corporation became effective.

Investors and stakeholders are encouraged to review the proxy statement/prospectus and other relevant documents related to the proposed transactions carefully. The company has provided information about obtaining these documents, emphasizing the importance of understanding the details before making any voting or investment decisions.

This report also includes forward-looking statements regarding the business combination and proposed transactions. Forward-looking statements come with inherent risks and uncertainties, and actual results may vary from these predictions due to various factors beyond the company’s control.

Atlantic Coastal Acquisition Corp. II and Abpro Corporation, along with their respective directors and officers, may be viewed as participants in the solicitation of proxies for the proposed transactions. Interested parties are advised to read the Registration Statement for full details on the risks and uncertainties associated with the transactions.

The company has clarified that this 8-K filing is not an offer to sell or a solicitation to buy securities, and any sale or offer will comply with applicable securities laws.

While forward-looking statements have been provided for illustrative purposes, Atlantic Coastal Acquisition Corp. II and Abpro Corporation retain the right to update these statements in the future. The companies do not guarantee the achievement of stated objectives and disclaim any obligation to do so moving forward.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Atlantic Coastal Acquisition Corp. II’s 8K filing here.

About Atlantic Coastal Acquisition Corp. II

Atlantic Coastal Acquisition Corp. II does not have significant operations. It focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more businesses in financial services industry and mobility sector.