00-0000000 Units, each consisting of one share of Class A ordinary shares, $0.0001 par value, and on-half of one redeemable warrant false 0001883962 0001883962 2023-10-09 2023-10-09 0001883962 us-gaap:CapitalUnitsMember 2023-10-09 2023-10-09 0001883962 us-gaap:CommonClassAMember 2023-10-09 2023-10-09 0001883962 us-gaap:WarrantMember 2023-10-09 2023-10-09

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or Section 15(d)

of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): October 9, 2023

 

 

ALSP ORCHID ACQUISITION CORPORATION I

(Exact Name of Registrant as Specified in Its Charter)

 

 

 

Cayman Islands   001-41086   N/A

(State or Other Jurisdiction of

Incorporation or Organization)

  

(Commission

File Number)

   (I.R.S. Employer
Identification Number)

 

2815 Eastlake Avenue East, Suite 300

Seattle, WA 98102

   98102
(Address of Principal Executive Offices)   (Zip Code)

(Registrant’s telephone number, including area code): (206) 957-7300

N/A

(Former name or former address, if changed since last report)

 

 

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

  

Trading
Symbol(s)

  

Name of each exchange

on which registered

Units, each consisting of one share of Class A ordinary shares, $0.0001 par value, and on-half of one redeemable warrant   ALORU   The Nasdaq Stock Market LLC
Class A ordinary shares included as part of the units   ALOR   The Nasdaq Stock Market LLC
Redeemable warrants included as part of the units, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50   ALORW   The Nasdaq Stock 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 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

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, ALSP Orchid Acquisition Corporation I., a Cayman Islands exempted company (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 24, 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 Class A ordinary shares and will consider options available to it to potentially achieve compliance.

 

SIGNATURE

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 12, 2023

 

ALSP ORCHID ACQUISITION CORPORATION I
By:  

/s/ Thong Q. Le

  Name:   Thong Q. Le
  Title:   Chief Executive Officer
v3.23.3
Document and Entity Information
Oct. 09, 2023
Document Information [Line Items]  
Document Type 8-K
Document Period End Date Oct. 09, 2023
Entity Registrant Name ALSP ORCHID ACQUISITION CORPORATION I
Entity Incorporation, State or Country Code E9
Entity File Number 001-41086
Entity Tax Identification Number 00-0000000
Entity Address, Address Line One 2815 Eastlake Avenue East
Entity Address, Address Line Two Suite 300
Entity Address, City or Town Seattle
Entity Address, State or Province WA
Entity Address, Postal Zip Code 98102
City Area Code 206
Local Phone Number 957-7300
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company true
Entity Ex Transition Period false
Amendment Flag false
Entity Central Index Key 0001883962
Capital Units [Member]  
Document Information [Line Items]  
Title of 12(b) Security Units, each consisting of one share of Class A ordinary shares, $0.0001 par value, and on-half of one redeemable warrant
Trading Symbol ALORU
Security Exchange Name NASDAQ
Common Class A [Member]  
Document Information [Line Items]  
Title of 12(b) Security Class A ordinary shares included as part of the units
Trading Symbol ALOR
Security Exchange Name NASDAQ
Warrant [Member]  
Document Information [Line Items]  
Title of 12(b) Security Redeemable warrants included as part of the units, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50
Trading Symbol ALORW
Security Exchange Name NASDAQ
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