Arogo Capital Acquisition Corp. Announces Receipt of Nasdaq Delisting Notice
August 16 2024 - 6:53PM
Arogo Capital Acquisition Corp. (“Arogo” or the “Company”) (Nasdaq:
AOGO/AOGOU/AOGOW), a special purpose acquisition company, today
announced that it received a notice (the “Notice”) from the Nasdaq
Stock Market LLC (“Nasdaq”) on August 12, 2024, notifying the
Company that, based on the market value of publicly held shares for
the previous 30 consecutive business days, the Company is not in
compliance with Nasdaq Listing Rule 5450(b)(2)(C), which requires
the Company’s listed securities to maintain a minimum market value
of publicly held shares of $15,000,000 (the "MVPHS Rule"). The
notice has no immediate effect on the listing of the Company's
securities on Nasdaq. The Company intends to monitor the market
value of the Company's listed securities and may, if appropriate,
consider available options to regain compliance with the MVPHS
Rule.
Under Nasdaq Listing Rule 5810(c)(3)(D), the
Company has a period of 180 calendar days (or until February 8,
2025) to regain compliance with the MVPHS Rule. To regain
compliance during this 180-day compliance period, the minimum
market value of publicly held shares must close at $15,000,000 or
more for a minimum of 10 consecutive business days. In the event
that the Company does not regain compliance with the MVPHS Rule
prior to the expiration of the 180-day compliance period, the
Company will receive written notification from Nasdaq that the
Company's securities are subject to delisting. At that time, the
Company may appeal the relevant delisting determination to a
hearings panel pursuant to the procedures set forth in the
applicable Nasdaq Listing Rules. However, there can be no assurance
that, if the Company does appeal the delisting determination by
Nasdaq to the panel, that such appeal would be successful.
About Arogo Capital Acquisition
Corp.
Arogo Capital Acquisition Corp. is a blank check
company. The Company aims to acquire one and more businesses and
assets, via a merger, capital stock exchange, asset acquisition,
stock purchase, and reorganization. For more information, visit
www.arogocapital.com.
Forward-Looking Statements
This Press Release contains “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Forward-looking statements include those that
express a belief, expectation or intention, as well as those that
are not statements of historical fact. Forward-looking statements
include information regarding our future plans and goals, as well
as our expectations with respect to, without limitation: our
ability to consummate the proposed business combination;
availability and terms of capital; our ability to regain compliance
with Nasdaq’s listing requirements; and our success in appealing
any delisting determination.
Forward-looking statements may be accompanied by
words such as “outlook,” “aim,” “anticipate,” “assume,” “believe,”
“budget,” “contemplate,” “continue,” “could,” “due,” “estimate,”
“expect,” “future,” “goal,” “intend,” “may,” “objective,” “plan,”
“predict,” “potential,” “positioned,” “pursue,” “seek,” “should,”
“target,” “will,” “would” and other similar expressions that are
predictions of or indicate future events and future trends, or the
negative of these terms or other comparable terminology, although
not all forward-looking statements contain these words.
Forward-looking statements are not assurances of future performance
and involve risks, uncertainties and assumptions which may cause
actual results to differ materially from any results expressed or
implied by any forward-looking statement, including, but not
limited to, the Company’s ability to regain compliance with the
Nasdaq listing requirements; and the other important factors
outlined under the caption “Risk Factors” in the Company’s Annual
Report on Form 10-K for the year ended December 31, 2023, as such
factors may be updated from time to time in the Company’s other
filings with the SEC, which are available on the SEC’s website at
www.sec.gov. Although the Company believes that the expectations
and assumptions reflected in its forward-looking statements are
reasonable, it cannot guarantee future results. These
forward-looking statements speak only as of the date they were made
and, except as otherwise required by law, the Company undertakes no
obligation to update, amend or ratify any forward-looking
statements because of new information, future events or other
factors.
Contact
Suradech TaweesaengsakulthaiChief Executive
Officersuradech@cho.co.th(786) 442-1482
Arogo Capital Acquisition (NASDAQ:AOGO)
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