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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): May 7, 2024

 

AIB Acquisition Corporation

(Exact name of registrant as specified in its charter)

 

Cayman Islands   001-41230   N/A
(State or other jurisdiction
of incorporation)		   (Commission File Number)   (IRS Employer
Identification No.)

 

875 Third Avenue, Suite M204A

New York, NY 10022

(Address of principal executive offices, including zip code)

 

Registrant’s telephone number, including area code: (212) 380-8128

 

Not Applicable
(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

  ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

  ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

  ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

  ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
         
Units, each consisting of one Class A Ordinary Share and one Right to receive one-tenth (1/10) of one Class A Ordinary Share upon the consummation of an initial business combination   AIBBU   The Nasdaq Stock Market LLC
         
Class A Ordinary Shares, par value $0.0001 per share   AIB   The Nasdaq Stock Market LLC
         
Rights, every ten (10) rights entitle the holder to receive one Class A Ordinary Share upon the consummation of an initial business combination   AIBBR   The Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company  ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

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

 

On May 7, 2024, AIB Acquisition Corporation (the “Company” or “we”) received written notice (the “Notice Letter”) from the Nasdaq Hearings Panel (the “Panel”) indicating that the Panel had determined to delist our securities from The Nasdaq Stock Market LLC (“Nasdaq”) and that trading in our securities would be suspended at the open of trading on May 9, 2024, due to our failure to satisfy the terms of the Panel’s March 14, 2024 decision (the “Decision”). Pursuant to the terms of the Decision, amongst other things, we were required to (i) advise the Panel regarding the status of the review by the U.S. Securities and Exchange Commission of the proxy statement/prospectus to be filed in connection with the Company’s initial business combination on or before May 1, 2024, (ii) hold a shareholder meeting and obtain approval for completion of our initial business combination on or before May 15, 2024, and (iii) close our initial business combination, with the new entity demonstrating compliance with the initial listing criteria set forth in Nasdaq Listing Rule 5500 on or before May 20, 2024. On May 1, 2024, we notified the Panel that we would not be able to close our initial business combination by the Panel’s May 20, 2024 deadline. Accordingly, the Panel determined to delist our securities from Nasdaq as set forth in the Notice Letter.

 

Following suspension of trading on Nasdaq, the Company’s units, ordinary shares and rights will be eligible to trade on the OTC Markets under the tickers “AIBBU,” “AIB,” and “AIBBR,” respectively. Nasdaq will complete the delisting by filing a Notification of Removal from Listing and/or Registration under Section 12(b) of the Securities and Exchange Act of 1934 on Form 25 with the Securities and Exchange Commission after the applicable Nasdaq review and appeal periods have lapsed.

 

1

 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  AIB Acquisition Corporation
     
Date: May 13, 2024 By: /s/ Eric Chen
    Name:  Eric Chen
    Title: Chief Executive Officer

 

2

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May 07, 2024
Document Type 8-K
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Document Period End Date May 07, 2024
Entity File Number 001-41230
Entity Registrant Name AIB Acquisition Corporation
Entity Central Index Key 0001882963
Entity Tax Identification Number 00-0000000
Entity Incorporation, State or Country Code E9
Entity Address, Address Line One 875 Third Avenue
Entity Address, Address Line Two Suite M204A
Entity Address, City or Town New York
Entity Address, State or Province NY
Entity Address, Postal Zip Code 10022
City Area Code (212)
Local Phone Number 380-8128
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Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
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Units Each Consisting Of One Class Ordinary Share And One Right To Receive Onetenth 110 [Member]  
Title of 12(b) Security Units, each consisting of one Class A Ordinary Share and one Right to receive one-tenth (1/10)
Trading Symbol AIBBU
Security Exchange Name NASDAQ
Class A Ordinary Shares, par value $0.0001 per share  
Title of 12(b) Security Class A Ordinary Shares, par value $0.0001 per share
Trading Symbol AIB
Security Exchange Name NASDAQ
Rights, every ten (10) rights entitle the holder to receive one Class A Ordinary Share upon the consummation of an initial business combination  
Title of 12(b) Security Rights, every ten (10) rights entitle the holder to receive one Class A Ordinary Share upon the consummation of an initial business combination
Trading Symbol AIBBR
Security Exchange Name NASDAQ
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