Welcome to our dedicated page for Maquia Capital news (Ticker: MAQC), a resource for investors and traders seeking the latest updates and insights on Maquia Capital stock.
Maquia Capital Acquisition Corporation (NASDAQ: MAQC) serves as a strategic hub for investors tracking SPAC developments in transformative technology sectors. This dedicated news center provides official press releases and curated updates on the company's merger activities, offering stakeholders timely insights into potential business combinations.
Our repository consolidates all MAQC-related announcements including proposed mergers, regulatory filings, and strategic partnership developments. Investors gain access to primary source materials covering due diligence processes, target company evaluations in enterprise AI and spatial computing, and post-merger integration plans.
Key updates include acquisition target analyses, shareholder meeting outcomes, and compliance-related communications. The platform enables efficient tracking of MAQC's progress in identifying high-growth technology companies while adhering to Nasdaq SPAC regulations.
Bookmark this page for direct access to verified information about MAQC's merger timeline, investor communications, and sector-specific developments. Regular updates ensure you maintain informed perspectives on this SPAC's evolving position within the technology acquisition landscape.
Maquia Capital Acquisition (MAQCU) faces delisting from Nasdaq due to non-compliance with listing rules. The company failed to complete a business combination within the required 36-month period following its IPO. Despite initially receiving an extension and entering a Business Combination Agreement with Velocium, Inc., Nasdaq's Panel decided to delist MAQCU's securities. Trading suspension began on July 31, 2024. The company has requested reconsideration and plans to appeal to the Nasdaq Listing and Hearing Review Council. Meanwhile, MAQCU has applied to list on the OTCQX with the same ticker symbols, aiming to maintain trading accessibility for its securities.
Velocium, Inc., a high-performance compute company optimized for AI, is set to go public on Nasdaq through a merger with Maquia Capital Acquisition Corp (NASDAQ: MAQCU). The transaction values Velocium at $445 million. The company's innovative cloud solution utilizes proprietary Velocium Processing Units (VPUs) that consolidate CPU, GPU, and TPU functions on a single chip, offering a flexible environment for large language models and inference.
Velocium's technology aims to address the growing demand for AI, HPC, and big data processing while significantly reducing energy consumption. The company's universal processor is reportedly 3x faster and 10x more energy-efficient than current market offerings. Upon closing, the company will trade on Nasdaq under the symbol 'VAI', led by CEO Daniel Kochis in Miami, Florida.
On May 22, 2024, Maquia Capital Acquisition received a notice from Nasdaq indicating delinquency in filing its Form 10-Q Report for the period ending March 31, 2024. This places the company at risk of delisting from Nasdaq due to non-compliance with Listing Rule 5250(c)(1). The company plans to appeal and request a hearing within 15 days. Additionally, on May 7, 2024, Maquia received another notice for failing to complete a business combination within 36 months of its IPO and not holding an annual meeting of stockholders on time. Although the annual meeting was held on May 20, 2024, the compliance status regarding the business combination remains unresolved. Maquia is diligently working to file the required reports and regain compliance.
Maquia Capital Acquisition (Nasdaq: MAQCU) and Immersed Inc. have mutually agreed to terminate their previously announced Business Combination Agreement, effective May 20, 2024. Despite this termination, Maquia remains committed to pursuing a business combination with a suitable target. Further details will be disclosed in a Current Report on Form 8-K, available on the SEC's website.
Maquia Capital Acquisition Corporation announced the adjournment of its special meeting to discuss extending the deadline for an initial business combination. Originally scheduled for November 1, 2022, the meeting will now take place on November 4, 2022. Stockholders will vote on whether to extend the deadline from November 7, 2022, to May 7, 2023. As of November 2, 2022, requests were made to redeem 14,781,810 shares, representing 82.61% of Class A shares. The company underscores the importance of stockholder approval for this extension.
Maquia Capital Acquisition Corporation announced an increase in contributions to its trust account from $0.0333 to $0.045 per share of Class A common stock. This change is tied to a stockholder vote for a charter amendment extending the deadline for an initial business combination from November 7, 2022, to May 7, 2023. If approved, for each unredeemed share, the contributions will aggregate approximately $0.045 per share per month, potentially raising the redemption amount to $10.62 per share by May 2023.
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