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Business Wire
4 days ago
- Business
- Business Wire
RMG Acquisition Corp. III Announces Liquidation
NEW YORK--(BUSINESS WIRE)--RMG Acquisition Corp. III (the 'Company') today announced that, because the Company will not consummate an initial business combination within the time period required by its Fifth Amended and Restated Memorandum and Articles of Association, the Company intends to redeem all of the outstanding shares of Class A ordinary shares that were included in the units sold in its initial public offering (the 'Public Shares'), at a per-share redemption price of approximately $10.00 and thereafter dissolve and liquidate. As of the close of business on July 9, 2025, the Public Shares will be deemed cancelled and will represent only the right to receive the redemption amount. Record holders will receive their pro rata portion of the proceeds of the trust account, subject to the Company's obligations under Cayman Islands law to provide for claims of creditors, by delivering their Public Shares to Continental Stock Transfer & Trust Company, the Company's transfer agent. Beneficial owners of Public Shares held in 'street name,' however, will not need to take any action in order to receive the redemption amount. The redemption of the Public Shares is expected to be completed within ten business days after July 9, 2025 1. RMG Sponsor III, LLC (the 'Sponsor') has agreed to waive its redemption rights with respect to (i) its outstanding Class B ordinary shares issued prior to the Company's initial public offering and (ii) its 3,500,000 outstanding Class A ordinary shares that were converted from Class B ordinary shares into Class A ordinary shares on December 26, 2023. There will be no redemption rights or liquidating distributions with respect to the Company's warrants, which will expire worthless. Nasdaq filed a Form 25 with the United States Securities and Exchange Commission (the 'Commission') to delist the Company's securities on June 28, 2024. The Company hereafter expects to file a Form 15 with the Commission to terminate the registration of its securities under the Securities Exchange Act of 1934, as amended. The board of directors of the Company has recommended and approved that, in connection with the redemption and delisting of the Company's Public Shares and distribution of its trust account, the Company appoint Alvarez & Marsal Cayman Islands Limited as voluntary liquidators of the Company. The voluntary liquidators' role will include determining the next steps for liquidating and/or distributing the Company's remaining assets following the redemption of the Public Shares. The proposed voluntary liquidators are wholly independent of the Company's existing management, its board of directors and its Sponsor. FORWARD-LOOKING STATEMENTS This press release contains statements that constitute '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. Forward-looking statements are based on the Company's current expectations and are subject to numerous conditions, risks and uncertainties, which could cause actual results to differ materially from those reflected in the statements, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's Annual Report on Form 10-K for the year ended December 31, 2022, filed with the SEC on April 18, 2023, and the Company's quarterly reports on Form 10-Q filed with the SEC, each available on the SEC's website, Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from the projections in the forward-looking statements. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Yahoo
24-06-2025
- Business
- Yahoo
JD.com Completes $2.00/ADS Takeover of Dada Nexus (DADA), Taking Delivery Platform Private
Dada Nexus Ltd (NASDAQ:DADA) is one of Goldman Sachs' top Chinese stock picks. On June 16, the company completed its privatization through a merger with JD Sunflower Merger Sub Limited, a wholly owned subsidiary of Shareholders approved the deal at $2.00 per ADS and $0.50 per ordinary share, making Dada a fully owned entity and delisting it from Nasdaq effective June 17. As part of the transition, Dada Nexus will file Form 15 with the SEC to suspend its reporting obligations, officially exiting U.S. public markets. The move marks a strategic shift as the company becomes a private subsidiary under umbrella. This acquisition strengthens competitive edge by integrating Dada's advanced local delivery infrastructure into its broader e-commerce ecosystem. The deal was supported by financial advisors Kroll and UBS, with legal counsel from Gibson Dunn and Skadden. Dada Nexus Ltd (NASDAQ:DADA) runs China's leading on-demand retail and delivery platform. Its JD NOW service connects consumers with retailers and brands for local shopping via web and mobile. At the same time, Dada NOW offers real-time, last-mile delivery across cities for businesses of all sizes and individual users. Together, the platforms create a seamless ecosystem for fast, local commerce. While we acknowledge the potential of DADA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Biotech Stocks Screaming a Buy and 13 Best Software Stocks to Buy Now. Disclosure: None. Sign in to access your portfolio
Yahoo
29-05-2025
- Business
- Yahoo
Brooge Energy Voluntarily Delists from Nasdaq
DUBAI, May 28, 2025 (GLOBE NEWSWIRE) -- Brooge Energy Limited, ("BEL" or the 'Company') (NASDAQ: BROG), a Cayman Islands-based infrastructure provider, which is engaged in Clean Petroleum Products and Biofuels and Crude Oil storage and related services, today announced that it has provided notification to The Nasdaq Stock Market, LLC ('Nasdaq') of its intent to voluntarily delist the Company's ordinary shares (the 'Shares'), from the Nasdaq Capital Market and subsequently deregister with the Securities and Exchange Commission (the 'SEC'). The Company intends to file a Form 25 (Notification of Removal from Listing) with the SEC and Nasdaq relating to the delisting of its Shares on or about June 9, 2025. As a result, the Company expects the last day of quotation of its Shares on Nasdaq will be on or about June 19, 2025. The Company does not intend to list the Shares on another securities exchange. Following the termination of the quotation of the Company's Shares from Nasdaq, the Company intends to file a Form 15 with the SEC on or about June 19, 2025 to suspend its reporting obligations under the Exchange Act. As a result of the filing of the Form 15, the Company's obligation to file certain Exchange Act reports and forms with the SEC, including Forms 20-F and 6-K, will immediately cease. Other SEC filing requirements will terminate upon the effectiveness of the deregistration. Although the Company will have no continuing requirement to file periodic reports with the SEC after June 19, 2025, the Company expects that the formal deregistration of its Securities will become effective 90 days after the filing of the Form 15 with the SEC. The documents filed with the SEC will be available at The withdrawal of the Shares from listing and registration is being undertaken following a determination by the Company's Board of Directors (the 'Board') that such delisting and deregistration is in the best interest of the Company and the holders of its Shares. The Board's decision was based on a careful review of numerous factors, including but not limited to, the lack of an active trading market for the Company's securities, the required resources and expenses relating to continued Securities Exchange Act of 1934 and Nasdaq disclosure and reporting requirements and related regulatory burdens which have resulted and would continue to result in significant operating expense and attention of the Company's management team. About Brooge Energy LimitedBEL is a Cayman Islands-based infrastructure provider which is engaged in Clean Petroleum Products and Biofuels and Crude Oil storage and related services. BEL conducts the business and operations through its subsidiary BPGIC FZE. BPGIC FZE is strategically located outside the Strait of Hormuz at the Port of Fujairah in the Emirate of Fujairah in the UAE Its business differentiates itself from competitors by providing customers with fast order processing times, excellent customer service and high accuracy blending services with low product losses. Forward-Looking Statements This press release contains statements that are not historical facts and constitute "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements reflect management's current views based on certain assumptions, and they involve risks and uncertainties. Actual results, events or performance may differ materially from the forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including risks described in public reports filed by BEL with the SEC. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. BEL does not undertake any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. Investor ContactKCSA Strategic CommunicationsValter Pinto, Managing Director+1 212-896-1254 BROG@ in to access your portfolio
Business Upturn
28-05-2025
- Business
- Business Upturn
Brooge Energy Voluntarily Delists from Nasdaq
DUBAI, May 28, 2025 (GLOBE NEWSWIRE) — Brooge Energy Limited, ('BEL' or the 'Company') (NASDAQ: BROG), a Cayman Islands-based infrastructure provider, which is engaged in Clean Petroleum Products and Biofuels and Crude Oil storage and related services, today announced that it has provided notification to The Nasdaq Stock Market, LLC ('Nasdaq') of its intent to voluntarily delist the Company's ordinary shares (the 'Shares'), from the Nasdaq Capital Market and subsequently deregister with the Securities and Exchange Commission (the 'SEC'). The Company intends to file a Form 25 (Notification of Removal from Listing) with the SEC and Nasdaq relating to the delisting of its Shares on or about June 9, 2025. As a result, the Company expects the last day of quotation of its Shares on Nasdaq will be on or about June 19, 2025. The Company does not intend to list the Shares on another securities exchange. Following the termination of the quotation of the Company's Shares from Nasdaq, the Company intends to file a Form 15 with the SEC on or about June 19, 2025 to suspend its reporting obligations under the Exchange Act. As a result of the filing of the Form 15, the Company's obligation to file certain Exchange Act reports and forms with the SEC, including Forms 20-F and 6-K, will immediately cease. Other SEC filing requirements will terminate upon the effectiveness of the deregistration. Although the Company will have no continuing requirement to file periodic reports with the SEC after June 19, 2025, the Company expects that the formal deregistration of its Securities will become effective 90 days after the filing of the Form 15 with the SEC. The documents filed with the SEC will be available at . The withdrawal of the Shares from listing and registration is being undertaken following a determination by the Company's Board of Directors (the 'Board') that such delisting and deregistration is in the best interest of the Company and the holders of its Shares. The Board's decision was based on a careful review of numerous factors, including but not limited to, the lack of an active trading market for the Company's securities, the required resources and expenses relating to continued Securities Exchange Act of 1934 and Nasdaq disclosure and reporting requirements and related regulatory burdens which have resulted and would continue to result in significant operating expense and attention of the Company's management team. About Brooge Energy Limited BEL is a Cayman Islands-based infrastructure provider which is engaged in Clean Petroleum Products and Biofuels and Crude Oil storage and related services. BEL conducts the business and operations through its subsidiary BPGIC FZE. BPGIC FZE is strategically located outside the Strait of Hormuz at the Port of Fujairah in the Emirate of Fujairah in the UAE Its business differentiates itself from competitors by providing customers with fast order processing times, excellent customer service and high accuracy blending services with low product losses. Forward-Looking Statements This press release contains statements that are not historical facts and constitute 'forward-looking statements' within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements reflect management's current views based on certain assumptions, and they involve risks and uncertainties. Actual results, events or performance may differ materially from the forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including risks described in public reports filed by BEL with the SEC. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. BEL does not undertake any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. Investor ContactKCSA Strategic CommunicationsValter Pinto, Managing Director+1 212-896-1254 [email protected]
Miami Herald
27-05-2025
- Business
- Miami Herald
23andMe to voluntarily delist from Nasdaq, deregister with SEC
May 27 (UPI) -- Human genetics testing firm 23andMe announced Tuesday it will voluntarily delist from the Nasdaq and deregister with the U.S. Securities and Exchange Commission after filing for Chapter 11 bankruptcy protection earlier this year. 23andMe, known for its at-home DNA testing kits and genetic profiles, said it will file a Form 25 Notification of Delisting with the SEC "on or about June 6," according to a company statement. Once the Nasdaq delisting becomes effective, the company will file a Form 15 to deregister with the SEC. "As Nasdaq has not yet made the filing, the company is doing so voluntarily to permit it to file a Form 15 to deregister with the SEC," the company said Tuesday. 23andMe announced in March that it would seek Chapter 11 proceedings in order to facilitate a court-supervised sale of its assets, as the California-based genetics company struggled financially after announcing it would cut its workforce by 40%. "After a thorough evaluation of strategic alternatives, we have determined that a court-supervised sale process is the best path forward to maximize the value of the business," Mark Jensen, chair and member of the Special Committee of the Board of Directors, said in March. Last week, Regeneron Pharmaceuticals acquired the right to purchase "substantially all" of 23andMe's assets after winning a bankruptcy auction in a deal worth $256 million. At its peak, the company was valued at around $6 billion. The transaction still needs to be approved by the U.S. Bankruptcy Court for the Eastern District of Missouri, as well as other regulators. "23andMe is a pioneer in consumer genetics and research, and we are excited for the opportunity to support their important mission and grow their platform and business," Regeneron senior vice president Aris Baras said in a statement on May 19. "We assure 23andMe customers that we are committed to protecting the 23andMe dataset with our high standards of data privacy, security and ethical oversight and will advance its full potential to improve human health," Baras added. Two years ago, the company disclosed that hackers had stolen ancestry and personal data from 6.9 million 23andMe customers. The leak included DNA data, birthdates, locations and profile photos. It spread to millions of other users through the DNA Relatives feature that provided information on account holders and their relatives. According to an SEC filing in October 2023, 23andMe predicted a loss of between $1 million and $2 million in "onetime expenses" related to the breach. Copyright 2025 UPI News Corporation. All Rights Reserved.
