Form 8-K - Current report
October 13 2023 - 5:04PM
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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
October 9, 2023
Date of Report (Date of earliest event reported)
Nubia Brand International Corp.
(Exact Name of Registrant as Specified in its Charter)
Delaware |
|
001-41323 |
|
87-1993879 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(I.R.S. Employer
Identification No.) |
13355 Noel Rd, Suite 1100
Dallas, TX |
|
75240 |
(Address of Principal Executive Offices) |
|
(Zip Code) |
Registrant’s telephone number, including
area code: (972) 918-5120
N/A
(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 |
| ☐ | Soliciting
material pursuant to Rule 14a-12 under the Exchange Act |
| ☐ | Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act |
| ☐ | Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading Symbol |
|
Name of each exchange on which registered |
Units, each consisting of one share of Common Stock and one-half of one Redeemable Warrant |
|
NUBIU |
|
The Nasdaq Capital Market LLC |
Common Stock, par value $0.0001 per share |
|
NUBI |
|
The Nasdaq Capital Market LLC |
Redeemable Warrants, each whole warrant exercisable for one share of Common Stock at an exercise price of $11.50 |
|
NUBIW |
|
The Nasdaq Capital 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 (17 CFR §230.405) or Rule 12b-2 of the Securities
Exchange Act of 1934 (17 CFR §240.12b-2).
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 October 9, 2023, Nubia Brand International
Corp., a Delaware corporation (the “Company”), received a written notice (the “Notice”) from the Nasdaq Listing
Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) indicating that the Company was not in compliance with Nasdaq
Listing Rule 5450(a)(2), which requires the Company to maintain at least 400 total holders for continued listing on the Nasdaq Global
Market (the “Minimum Total Holders Rule”). The Notice is only a notification of deficiency, not of imminent delisting, and
has no current effect on the listing or trading of the Company’s securities on the Nasdaq Global Market.
In accordance with Nasdaq Listing Rule 5810(c)(2)(A)(i),
the Notice states that the Company has 45 calendar days, or until November 23, 2023, to submit a plan to regain compliance with the Minimum
Total Holders Rule.
If the Company is unable to regain compliance
by that date, the Company intends to submit a plan to regain compliance with the Minimum Total Holders Rule within the required timeframe.
If Nasdaq accepts the Company’s plan, Nasdaq may grant the Company an extension of up to 180 calendar days from the date of the
Notice to evidence compliance with the Minimum Total Holders Rule. If Nasdaq does not accept the Company’s plan, the Company will
have the opportunity to appeal the decision in front of a Nasdaq Hearings Panel.
The Company is monitoring the number of holders
of its shares of Class A common stock and will consider options available to it to potentially achieve compliance.
SIGNATURES
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.
Dated: October 13, 2023 |
NUBIA BRAND INTERNATIONAL CORP. |
|
|
|
|
By: |
/s/ Jaymes Winters |
|
Name: |
Jaymes Winters |
|
Title: |
Chief Executive Officer |
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Entity File Number |
001-41323
|
Entity Registrant Name |
Nubia Brand International Corp.
|
Entity Central Index Key |
0001881551
|
Entity Tax Identification Number |
87-1993879
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
13355 Noel Rd
|
Entity Address, Address Line Two |
Suite 1100
|
Entity Address, City or Town |
Dallas
|
Entity Address, State or Province |
TX
|
Entity Address, Postal Zip Code |
75240
|
City Area Code |
972
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Local Phone Number |
918-5120
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Units, each consisting of one share of Common Stock and one-half of one Redeemable Warrant |
|
Title of 12(b) Security |
Units, each consisting of one share of Common Stock and one-half of one Redeemable Warrant
|
Trading Symbol |
NUBIU
|
Security Exchange Name |
NASDAQ
|
Common Stock, par value $0.0001 per share |
|
Title of 12(b) Security |
Common Stock, par value $0.0001 per share
|
Trading Symbol |
NUBI
|
Security Exchange Name |
NASDAQ
|
Redeemable Warrants, each whole warrant exercisable for one share of Common Stock at an exercise price of $11.50 |
|
Title of 12(b) Security |
Redeemable Warrants, each whole warrant exercisable for one share of Common Stock at an exercise price of $11.50
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Trading Symbol |
NUBIW
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Security Exchange Name |
NASDAQ
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