On March 23, 2026, Oak Woods Acquisition Corp. received a staff determination letter from the Nasdaq Listing Qualifications Department, indicating that the company is no longer in compliance with Nasdaq Listing Rule IM-5101-2. This rule mandates that special purpose acquisition companies must complete one or more business combinations within 36 months of their initial public offering registration statement. As Oak Woods did not complete an initial business combination by the deadline, Nasdaq has determined that this deficiency serves as a basis for delisting the company's securities. Consequently, trading of the company's Class A ordinary shares, warrants, rights, and units will be suspended at the opening of business on March 25, 2026. The company anticipates that Nasdaq will file a Form 25-NSE with the Securities and Exchange Commission to remove its securities from listing and registration on Nasdaq. Following the suspension, the company expects that its securities may be eligible for quotation on an over-the-counter market, although there is no assurance that a market will develop or be sustained. The company has indicated its intention to seek shareholder approval to extend the time for completing a business combination and to provide shareholders with the opportunity to redeem their public shares in connection with this proposal. This situation raises concerns about the company's liquidity and operational execution moving forward.

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