Healthcare AI Acquisition Corp. Faces Delisting from Nasdaq; Extends Business Combination Deadline

Healthcare AI Acquisition Corp. (NASDAQ: HAIAU) recently received a notice from the Nasdaq Stock Market LLC stating that the company did not comply with Nasdaq Interpretive Material IM-5101-2, leading to its securities being subject to delisting. The notice highlighted that the company has not completed one or more business combinations within 36 months of the effectiveness of its IPO registration statement, as required.

Due to the failure to meet the stipulated deadline of December 9, 2024, Healthcare AI Acquisition Corp.’s securities are now at risk of delisting. Unless the company appeals this determination, trading of its securities on Nasdaq will cease at the opening of business on December 17, 2024, with a Form 25-NSE submitted to the Securities and Exchange Commission (SEC) to remove the securities from Nasdaq listing.

Healthcare AI Acquisition Corp. has decided not to appeal Nasdaq’s decision for delisting, indicating that its securities will be suspended from trading on Nasdaq starting December 17, 2024. The company, however, anticipates that its securities will be available for trading on the over-the-counter market from the same day.

In another development, on December 12, 2024, Healthcare AI Acquisition Corp. deposited $13,173.17 into its trust account to extend the timeline to complete a business combination until January 14, 2025. The company has the option to further extend this deadline on a monthly basis by depositing the same amount, allowing for potential extensions until May 14, 2025.

Investors and stakeholders are advised to stay updated on the company’s movements following these decisions.

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

About Healthcare AI Acquisition

Healthcare AI Acquisition Corp. does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. The company was incorporated in 2021 and is based in Dover, Delaware.