YHN Acquisition I Limited

YHNA: 8-K · delisting

YHN Acquisition I Limited received a Nasdaq Staff Determination on October 21, 2026 confirming it failed to regain compliance with minimum market value requirements ($15M publicly held shares; $50M listed securities) by the October 14, 2026 deadline. Nasdaq will suspend trading in the company's units, shares, and rights at the open on October 30, 2026, and file a Form 25-NSE to delist and deregister the securities. The board decided not to appeal to a Nasdaq Hearings Panel and not to transfer the listing to The Nasdaq Capital Market, instead applying to have the securities quoted on the OTC Markets — subject to a market maker filing and FINRA clearing a Form 211, with no assurance of success. The company says the delisting does not affect its business operations or its pursuit of a business combination, and public shareholders retain rights to their pro rata share of the IPO trust account. The transition to OTC is expected to reduce liquidity and may pressure the trading price.

SEC 8-K•1d ago

YHNA: 10-Q · periodic report

YHN Acquisition I Limited filed its 10-Q for the quarter ended June 30, 2026, reporting net income of $114,872 for the quarter and $210,439 for the first six months of 2026, driven almost entirely by $481,147 of dividend income on trust investments rather than operating activity. The pre-deal SPAC disclosed substantial doubt about its ability to continue as a going concern, holding just $26,560 in cash against a $1,262,899 working capital deficit, and faces a September 19, 2026 deadline to complete its business combination after all three available three-month trust extensions were exhausted. The filing also revealed two Nasdaq listing deficiencies: an April 17, 2026 letter for falling below the $50 million Market Value of Listed Securities minimum (compliance deadline October 14, 2026) and a June 10, 2026 letter for falling below the 400 total holders requirement, either of which could lead to delisting if unresolved. The pending business combination with Mingde Technology Limited, whose operating arm XJR runs online sports platforms in China, is valued at $326 million plus up to $70 million in earnout shares, with $27,832,053 remaining in trust for 2,535,821 redeemable shares.

SEC 10-Q•2mo ago

YHNA: PRE 14A · proxy statement

YHN Acquisition I Limited, a British Virgin Islands SPAC that IPO'd in September 2024, filed a preliminary proxy statement for its September 14, 2026 annual meeting asking shareholders to approve extending its business combination deadline in three three-month increments, from September 19, 2026 to as late as June 19, 2027. The package includes a matching amendment to the trust agreement with Continental Stock Transfer & Trust Company, under which the sponsor would deposit $100,000 into the trust account for each quarterly extension. The company already used its first round of three extensions with $150,000 deposits to push the deadline from December 19, 2025 to September 19, 2026. If the amendments are not approved and no deal is consummated by September 19, 2026, the company will redeem public shares at trust value and liquidate, with warrants and rights expiring worthless; shareholders may also elect redemption in connection with the vote, subject to a $5,000,001 net tangible assets floor. Sponsor YHN Partners I Limited holds 32.08% of shares and would fund the extension deposits as forgivable loans, while 3,464,179 shares were already tendered for redemption at the December 2025 AGM that approved the prior extension round — a signal that no acquisition target has yet been identified roughly 24 months post-IPO.

SEC PRE 14A•2mo ago

YHNA: 8-K · other

YHN Acquisition I Limited deposited $150,000 into its trust account to extend the timeframe available to complete a business combination. This amendment pushes the deadline from June 19, 2026, to September 19, 2026, granting the company an additional three months to identify a suitable target. CEO Poon Man Ka, Christy signed the report to confirm the modification of the company's merger timeline.

SEC 8-K•4mo ago

YHNA: 8-K · delisting

YHN Acquisition I Limited received a notification from Nasdaq on June 10, 2026, stating it is not in compliance with the minimum total holders requirement of 400 beneficial and record holders. The company has 45 calendar days to submit a plan to regain compliance, with a potential extension of up to 180 days if the plan is accepted. Alternatively, the company may apply for a transfer to the Nasdaq Capital Market by paying a $5,000 fee and meeting its listing requirements. This deficiency notice highlights liquidity and shareholder base challenges, which are significant risks for pre-deal SPACs. While trading continues for now, failure to regain compliance could lead to delisting, severely impacting the company's ability to complete a business combination.

SEC 8-K•4mo ago