KUNMING,
China, June 5, 2024 /PRNewswire/ -- Distoken
Acquisition Corporation (NASDAQ: DIST) (the "Company") announced
today that it received a notice ("Notice") from the Listing
Qualifications Department of The Nasdaq Stock Market ("Nasdaq")
stating that the Company is not in compliance with Nasdaq Listing
Rule 5250(c)(1) (the "Rule") because the Company failed to timely
file its Quarterly Report on Form 10-Q for the quarter ended March
31, 2024 (the "Form 10-Q") with the Securities and Exchange
Commission ("SEC"). The Notice has no immediate effect on the
listing or trading of the Company's securities on the Nasdaq Global
Market. The Company is working diligently to finalize the financial
statements and to file the Form 10-Q as soon as practicable.
Under Nasdaq rules, the Company has 60 calendar days from the
date of the Notice, or until July 29,
2024, to submit a plan to regain compliance with the Rule.
If Nasdaq accepts the Company's plan, then Nasdaq may grant an
exception of up to 180 calendar days from the due date of the Form
10-Q, or until November 18, 2024, to
regain compliance.
About Distoken Acquisition Corporation
The Company is a blank check company incorporated as a
Cayman Islands exempted company on
July 1, 2020, for the purpose of
effecting a merger, share exchange, asset acquisition, share
purchase, recapitalization, reorganization or other similar
business combination with one or more businesses or entities.
Forward-Looking Statements
This press release may include, and oral statements made from
time to time by representatives of the Company may include,
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Statements other than
statements of historical fact included in this press release are
forward-looking statements. When used in this press release, words
such as "anticipate," "believe," "continue," "could," "estimate,"
"expect," "intend," "may," "might," "plan," "possible,"
"potential," "predict," "project," "should," "would" and similar
expressions, as they relate to us or our management team, identify
forward-looking statements. Such forward-looking statements are
based on the beliefs of management, as well as assumptions made by,
and information currently available to, the Company's management.
Actual results could differ materially from those contemplated by
the forward-looking statements as a result of certain factors
detailed in the Company's filings with the SEC. All subsequent
written or oral forward-looking statements attributable to us or
persons acting on our behalf are qualified in their entirety by
this paragraph. Forward-looking statements are subject to numerous
conditions, many of which are beyond the control of the Company,
including those set forth in the Risk Factors section of the
Company's registration statement and prospectus for the Company's
initial public offering filed with the SEC. The Company undertakes
no obligation to update these statements for revisions or changes
after the date of this release, except as required by law.
Contact:
Distoken Acquisition Corporation:
Jian Zhang
Chief Executive Officer
zhangjian@distoken.net
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SOURCE Distoken Acquisition Corporation