AI Transportation Acquisition Corp Announces Delisting from Nasdaq and Expected SEC Deregistration

Introduction
On April 17, 2025, AI Transportation Acquisition Corp (Nasdaq: AITR) announced a significant change in its trading status. Due to non-compliance with Nasdaq's Listing Rule regarding fee payments, AITR will be delisted from the Nasdaq Stock Market. This article outlines the key details surrounding the delisting, the implications for AITR's securities, and what investors can expect moving forward.

Key Details of the Delisting

• Delisting from Nasdaq:
  Nasdaq has decided to suspend trading and delist AITR's securities due to the company's failure to pay required fees as per Listing Rule 5250(f).

• Decision Against Appeal:
  AITR has opted not to appeal this decision, aiming to limit the costs associated with remaining listed and complying with Nasdaq standards.

• Securities Affected:
  The delisting affects:

  • Ordinary Shares: Valued at $0.0001 per share.
  • Rights: Each right entitles the holder to acquire 1/8th of one Ordinary Share.
  • Units: Comprising one Ordinary Share and one Right.

• Timeline for Delisting:

  • Trading suspension began on April 16, 2025.
  • The official removal of AITR's securities will be effective 10 days post-filing of Form 25 with the SEC.

Future Trading Prospects

• OTC Trading:
  Following the delisting, AITR anticipates that its Ordinary Shares will be traded on a market operated by the OTC Markets Group Inc. However, trading on the OTC is not guaranteed.

Background on AITR

AI Transportation Acquisition Corp is a special purpose acquisition company (SPAC) formed to facilitate mergers, acquisitions, and similar business combinations across various industries and regions. The company completed its initial public offering on November 8, 2023, which included units that combine shares and rights.

Important Notices

• Failure to File Annual Report:
  AITR received a notice from Nasdaq citing the failure to file an Annual Report on Form 10-K for the year ending December 31, 2021, as another reason for delisting.

Forward-Looking Statements

This announcement includes forward-looking statements regarding AITR's future expectations and plans. Key points to note include:

• Potential Delisting Impacts:
  The timeline and benefits of delisting may differ from current expectations due to various factors.

• Regulatory Changes:
  Changes in laws and regulations may also affect AITR's plans and operations.

• Disclaimer on Updates:
  AITR disclaims any obligation to update these statements, and readers should not rely on this information as current after the publication date.

Conclusion

The delisting of AI Transportation Acquisition Corp from Nasdaq marks a pivotal moment for the company and its investors. As AITR transitions to potential trading on the OTC Markets, stakeholders should stay informed about developments and consider the implications of this significant change.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research or consult a licensed financial advisor before making investment decisions.