Evergreen Faces Potential Delisting from Nasdaq

Evergreen Corporation (NASDAQ: EVGRU) is currently at risk of being delisted from The Nasdaq Stock Market. The company recently disclosed in a Form 8-K filing to the Securities and Exchange Commission that it received a notification from Nasdaq citing non-compliance with the minimum 400 total shareholders requirement for continued listing on the Nasdaq Global Market.

According to Nasdaq, Evergreen failed to regain compliance with Nasdaq Listing Rule 5450(a)(2) within the extension period which concluded on January 28, 2025. To address this issue, Evergreen has until February 10, 2025, to request a hearing before the Nasdaq Hearings Panel.

If the company does not initiate a hearing request by the specified date, trading of its securities will cease at the start of business on February 12, 2025. Additionally, a Form 25 NSE will be submitted to the SEC, resulting in the removal of Evergreen’s securities from listing and registration on The Nasdaq Stock Market.

In the event of a delisting, Evergreen’s securities are anticipated to transition to over-the-counter trading. However, the company intends to reapply for listing on Nasdaq in conjunction with the potential closure of a forthcoming business combination.

Evergreen is an emerging growth company, as defined by Rule 405 of the Securities Act of 1933 and Rule 12b-2 of the Securities Exchange Act of 1934. The company has not opted to utilize the extended transition period for adhering to new or revised financial accounting standards, provided through Section 13(a) of the Exchange Act.

The Form 8-K filing was officially signed by Liew Choon Lian, the Chief Executive Officer of Evergreen Corporation, on behalf of the registrant, in compliance with the Securities Exchange Act of 1934. The report was submitted on February 7, 2025.

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

Evergreen Company Profile

Evergreen Corporation is a blank check company. It intends to enter into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. The company was incorporated in 2021 and is based in Kuala Lumpur, Malaysia.