Target Global Acquisition I Faces Delisting from Nasdaq, Pursues OTCQX Listing

Target Global Acquisition I Corp. is currently facing delisting from The Nasdaq Global Market, as per a notice received on December 10, 2024. The notice, also known as the Delisting Notice, was issued by Nasdaq’s Listing Qualifications Department due to the company’s non-compliance with Nasdaq IM-5101-2. This rule mandates that a special purpose acquisition company (SPAC) complete one or more business combinations within 36 months of its IPO registration statement’s effectiveness.

The consequence of this non-compliance is the suspension of trading in Target Global Acquisition I Corp.’s securities on The Nasdaq Global Market effective from the opening of business on December 17, 2024. Following the delisting, the company expects its Units, Class A common stock shares, and redeemable warrants to become eligible for trading on the OTCQX under the symbols “TGAAU,” “TGAA,” and “TGAAW,” respectively. The company had previously applied for its securities to be quoted on the OTCQX Marketplace on December 3, 2024. Nasdaq will finalize the delisting by submitting a Notification of Removal from Listing and/or Registration under Section 12(b) of the Securities Exchange Act of 1934 to the U.S. Securities and Exchange Commission.

Despite the upcoming delisting, Target Global Acquisition I Corp. is committed to pursuing a previously disclosed proposed business combination with Venhub Global, Inc., aiming for the listing of Venhub’s securities on Nasdaq.

Investors are advised to closely monitor the progress of the proposed business combination between Target Global Acquisition I Corp. and Venhub Global, Inc. Further information will be available through respective SEC filings and documents related to the transaction.

The participants involved, including directors and officers of both Venhub and Target Global Acquisition I Corp., are considered to be actively engaging in the solicitation of proxies from the company’s shareholders related to the proposed transaction. These individuals’ detailed information and relevant securities ownerships can be found in the SEC filings of the company.

Forward-looking statements are included in this disclosure to provide insights into the anticipated benefits, timing, and strategic activities surrounding the proposed transaction. However, these statements are subject to risks, uncertainties, and factors that may cause actual outcomes to differ from the expressed expectations. Investors are advised to scrutinize the risks and uncertainties outlined in necessary filings regarding the proposed transaction.

Under no circumstances does this communication constitute a solicitation of offers, a recommendation to transact in securities, or a basis for any voting solicitations in any jurisdiction. It is essential to adhere to the legal requirements and regulations governing such transactions.

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

Target Global Acquisition I Company Profile

Target Global Acquisition I Corp. does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. It intends to focus on companies operating in the consumer internet, mobility, and financial technology sectors.