GlobeNewswire Inc. · May 24, 2024
Miami, Florida, May 24, 2024 (GLOBE NEWSWIRE) -- On May 22, 2024, Maquia Capital Acquisition Corporation (“Maquia” or the “Company”), received a notice from the Listing Qualifications Department of the Nasdaq Stock Market (“Nasdaq”) (the “Notice”) that Maquia was delinquent in the filing of its periodic Form 10Q Report with the Securities and Exchange Commission (the “SEC”) for the period ending March 31, 2024 and that Nasdaq has initiated a process which could result in the delisting of the Company’s securities from Nasdaq Stock Market as a result of the Company not being in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”), which requires listed companies to file in a timely manner all required periodic financial reports with the SEC. The Company intends to timely appeal the Notice and request a hearing in accordance with NASDAQ Listing Rule 5815(a)(1)(B). A request for a hearing regarding a delinquent filing will stay the suspension of the Company’s securities for a period of 15 days from the date of the request. The Company is working diligently to file the delinquent periodic report as soon as possible to regain full compliance with the Listing Rule. There can be no assurance that Nasdaq will accept the Company’s plan to regain compliance or that the Company will be successful in implementing its plan to regain compliance with the Rule, by filing the Report with the Commission
GlobeNewswire Inc. · May 23, 2024
Miami, Florida and Austin, Texas, May 23, 2024 (GLOBE NEWSWIRE) -- Maquia Capital Acquisition Corporation, a special purpose acquisition company (Nasdaq: MAQC) (“Maquia”), and Immersed Inc., a Delaware corporation (“Immersed”), today announced that effective as of May 20, 2024 they mutually agreed to immediately terminate the previously announced Business Combination Agreement (the “Business Combination Agreement”),.
GlobeNewswire Inc. · Jan 23, 2024
Miami, FL, Jan. 23, 2024 (GLOBE NEWSWIRE) -- Maquia Capital Acquisition Corporation (“Maquia” or the “Company”) (Nasdaq: “MAQC”, “MAQCU”, “MAQCW”) announced today that, in connection with the Company’s upcoming special meeting of the stockholders (the “Special Meeting”) to consider and approve an extension of time for the Company to consummate an initial business combination from February 7, 2024 to August 7, 2024 (the “Extension”), on January 23, 2024, Maquia Investments North America, LLC (the “Sponsor”) or its designees and, Maquia Capital Acquisition Corporation (the “Company”) commenced negotiation with unaffiliated third parties (“Third Parties”) for a non-redemption agreement (“Non-Redemption Agreement”) in which such third parties would agree not to redeem a currently unspecified number shares of the Company’s Class A common stock purchased by such Third Parties in the initial public offering (“Non-Redeemed Shares”) in connection with the special meeting of the stockholders called by the Company (the “Special Meeting”) to consider and approve an extension of time for the Company to consummate an initial business combination (the “Extension Proposal”) from February 7, 2024 to August 7, 2024 (the “Extension”). In exchange for the foregoing commitments not to redeem such Non-Redeemed Shares, the Sponsor has agreed to transfer to such Third Parties 2.5% per month of the Non-Redeemed Shares up to a maximum of 6 months (depending upon the month the initial business combination is consummated), of the Company’s Class A common stock held by such Third Parties, immediately following the consummation of an initial business combination, if the Third Parties continue to hold such Non-Redeemed Shares through the Special Meeting.
GlobeNewswire Inc. · May 4, 2023
Miami, FL, May 04, 2023 (GLOBE NEWSWIRE) -- Maquia Capital Acquisition Corporation (“Maquia” or the “Company”) (Nasdaq: “MAQC”, “MAQCU”, “MAQCW”) announced today that, in connection with the Company’s upcoming special meeting of the stockholders (the “Special Meeting”) to consider and approve an extension of time for the Company to consummate an initial business combination from May 7, 2023 to February 7, 2024 (the “Extension”), Maquia Investments North America, LLC (the “Sponsor”) or its designees have agreed to contribute to the Company as a loan an aggregate of $ 0.025 for each share of Class A commons stock that is not redeemed, for each calendar month (commencing on May 7, 2023 and on the 7th day of each subsequent month) until February 7, 2024 (each, an “Extension Period”), or portion thereof, that is needed to complete an initial business combination (the “Contribution”). For example, if the Company takes until February 7, 2024, to complete its initial business combination, which would represent nine calendar months, the Sponsor or its designees would make aggregate Contributions resulting in a redemption amount of approximately $11.135 per unredeemed share, in comparison to the current redemption amount of $10.91 per share.
