YHN Acquisition I Ltd is set to be delisted from the Nasdaq Stock Market after failing to meet the minimum market value requirements necessary for continued listing. This significant development comes as the company received a notice from Nasdaq indicating that its market value fell below the required thresholds.
As previously disclosed, YHN Acquisition I Ltd, which operates under the SIC code 6770, focusing on blank checks, received two written notices from Nasdaq on April 17, 2026. The notices stated that the company had not maintained a market value of publicly held shares above $15 million and a total market value of listed securities above $50 million, both of which are essential for compliance with Nasdaq Listing Rules.
Following a compliance period of 180 days, the company received a Staff Determination on October 21, 2026, confirming that it had not regained compliance by the deadline of October 14, 2026. Consequently, the company was informed that its securities would be delisted unless it filed an appeal by October 28, 2026.
In a decisive move, the board of directors of YHN Acquisition I Ltd has opted not to appeal the determination or apply for a transfer to the Nasdaq Capital Market. As a result, trading in its units, ordinary shares, and rights will be suspended on October 30, 2026, with plans for Nasdaq to file a Form 25-NSE to effectuate the delisting.
Despite the impending delisting, the company intends to apply for quotation of its securities on the OTC Markets. This transition is contingent upon the filing of a Form 211 by a market maker, which must be cleared by the Financial Industry Regulatory Authority (FINRA). However, the outcome remains uncertain, and there is no guarantee that an active trading market will develop on the OTC Markets.
The delisting from Nasdaq does not alter the company’s business operations or its intention to pursue a business combination. YHN Acquisition I Ltd will continue to file periodic reports with the SEC as required by federal securities laws. Shareholders will still have rights to their pro rata share of funds held in the trust account established during the company’s initial public offering.
This situation highlights the challenges faced by companies in the blank check sector, especially those struggling to maintain their market presence. The decision to transition to OTC Markets may lead to decreased liquidity and increased volatility for the company’s securities.
Looking ahead, YHN Acquisition I Ltd will focus on its ongoing operations and the pursuit of a business combination, even as it navigates the complexities of this delisting process. The company has indicated that it will announce further details regarding its OTC Markets listing as they become available.