Burtech Acquisition Corp. Faces Delisting from Nasdaq

Burtech Acquisition Corp. (NASDAQ:BRKHU) has encountered a potential delisting scenario as revealed in an official filing with the Securities and Exchange Commission (SEC). On December 11, 2024, the company received a notice from the Nasdaq Stock Market LLC. The notice indicated that Burtech Acquisition Corp. did not adhere to Nasdaq Interpretive Material IM-5101-2, leading to its securities being eligible for delisting.

It was stipulated in IM-5101-2 that as a special purpose acquisition company, Burtech Acquisition Corp. needed to execute one or more business combinations within 36 months from the effectiveness of its IPO registration statement. Since the company failed to finalize its initial business combination by December 10, 2024, it is now subject to delisting. Unless an appeal is promptly requested, the trading of Burtech Acquisition Corp.’s securities on Nasdaq will cease starting December 18, 2024.

Burtech Acquisition Corp. has decided not to challenge Nasdaq’s decision for delisting and, subsequently, its securities will be suspended from trading on Nasdaq from the opening of business on December 18, 2024. The company plans to shift its securities to OTC for quotation under the same ticker symbols post-delisting from Nasdaq.

In a previous announcement, on December 22, 2023, Burtech Acquisition Corp., along with other entities, entered into an Agreement and Plan of Merger. This agreement outlined a merger transaction with Blaize, Inc., where Blaize would survive as a subsidiary following the merger. Upon completion of the Business Combination, Burtech Acquisition Corp. will be rebranded as “Blaize Holdings, Inc.” The company has submitted an application to Nasdaq for the listing of New Blaize’s securities post the Business Combination.

Even after the delisting of its securities, Burtech Acquisition Corp. intends to progress with the transactions outlined in the Merger Agreement to finalize the Business Combination. Additionally, the company will continue pursuing approval for the Nasdaq Application to list New Blaize’s securities on Nasdaq post the completion of the Business Combination.

In a related development, Burtech Acquisition Corp. exercised its right under the Trust Amendment to extend the time to complete a business combination by depositing $205,227.15 into the trust account. This extension will be valid for one month, and the company has executed this right around December 15, 2024.

The company did not provide any financial statements within this filing but included an exhibit related to an Interactive Data File.

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

About Burtech Acquisition

Burtech Acquisition Corp. does not have significant operations. The company focuses to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to acquire a business, which operates in the retail, lifestyle, hospitality, technology, and real estate markets.