Enhanced Group (APAD) files Form 25 to withdraw Nasdaq listing

Enhanced Group Inc. submitted a Form 25 notifying the removal of its Class A Ordinary Shares (Rights Units) from listing and registration on The NASDAQ Stock Market LLC.

Rhea-AI Filing Summary

Enhanced Group Inc. submitted a Form 25 notifying the removal of its Class A Ordinary Shares (Rights Units) from listing and registration on The NASDAQ Stock Market LLC. The filing states the Exchange and the issuer have complied with the rules governing withdrawal. The notice is signed by Chief Legal Officer Emily Tabak on May 7, 2026.

Insights

Securities Compliance Attorney

Form 25 records a formal withdrawal of listing/registration; compliance steps are attested.

The filing certifies that both the Exchange and Enhanced Group Inc. complied with 17 CFR 240.12d2-2 procedures for striking the class of securities and for voluntary withdrawal. It does not state the effective removal date or the reason for delisting.

Absent an effective date or rationale in this excerpt, subsequent filings or Exchange notices will be needed to determine trading suspension timing and any ongoing reporting obligations.

Key Figures

Commission File Number: 001-42769 Filing Date: May 7, 2026 Rights Unit ratio: one-eighth of one Class A Ordinary Share +1 more

4 metrics

Commission File Number 001-42769 Form 25 cover data

Filing Date May 7, 2026 Signature date on Form 25

Rights Unit ratio one-eighth of one Class A Ordinary Share Rights Units description

Issuer address ZIP 10016 Principal executive offices address

Key Terms

Form 25, 17 CFR 240.12d2-2, Rights Units

3 terms

Form 25 regulatory

"Notification of removal from listing and/or registration"

A Form 25 is an official filing with the U.S. Securities and Exchange Commission used to remove a company's stock or other security from a national exchange list. Investors should care because delisting often means less visibility, lower trading volume and wider price swings—similar to a product moving from a major supermarket to a small local market, which can make buying, selling and valuing the security more difficult.

17 CFR 240.12d2-2 regulatory

"Exchange compliance with rules to strike the class of securities"

A U.S. Securities and Exchange Commission rule that describes the conditions and procedural steps for a security to be removed from public registration or reporting under the Securities Exchange Act of 1934. For investors, it matters because it explains when a company’s shares can stop being subject to regular disclosure and exchange listing rules — similar to knowing when a publicly tracked product will be discontinued and no longer send updates, which affects transparency and liquidity.

Rights Units financial

"each consisting of one Class A Ordinary Share and one-eighth of one Class A Ordinary Share"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does Enhanced Group Inc. (APAD) filing Form 25 mean?

It means Enhanced Group Inc. notified the SEC and Nasdaq that its Class A Ordinary Shares will be removed from Nasdaq. The filing attests to compliance with 17 CFR 240.12d2-2 and is dated May 7, 2026.

Will APAD shares stop trading immediately after Form 25?

A Form 25 itself is a withdrawal notice and does not always set the trading halt date. The excerpt does not state an effective removal date; Nasdaq or subsequent notices typically specify timing.

Does the Form 25 explain why APAD is being delisted?

No. The provided excerpt certifies procedural compliance but does not state the reason for removal. Additional disclosures or Exchange notices must be consulted for the rationale.

Who signed the Form 25 for APAD and when?

The Form 25 is signed by Chief Legal Officer Emily Tabak and dated May 7, 2026, certifying the issuer's reasonable grounds for filing under the Exchange Act.

What rules are cited in APAD's Form 25?

The filing references 17 CFR 240.12d2-2(a)(1)-(4) and 17 CFR 240.12d2-2(b) and (c), indicating the Exchange and issuer complied with the procedures for striking and voluntary withdrawal.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/07/2026 - 11:42 AM Learn about SEC filing dates

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 25

NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934.

Commission File Number: 001-42769

ENHANCED GROUP INC. – THE NASDAQ STOCK MARKET LLC

(Exact name of Issuer as specified in its charter, and name of Exchange where security is listed and/or registered)

169 Madison Avenue, Suite 15101 New York, NY, 10016

(Address, including zip code, and telephone number, including area code, of Issuer’s principal executive offices)

Class A Ordinary Shares, no par value

Rights

Units, each consisting of one Class A Ordinary Share, with no par value, and one Right to receive one-eighth of one Class A Ordinary Share

(Description of class of securities)

Please place an X in the box to designate the rule provision relied upon to strike the class of securities from listing and registration:

☐17 CFR 240.12d2-2(a)(1)

☐17 CFR 240.12d2-2(a)(2)

☐17 CFR 240.12d2-2(a)(3)

☐17 CFR 240.12d2-2(a)(4)

☐Pursuant to 17 CFR 240.12d2-2(b), the Exchange has complied with its rules to strike the class of securities from listing and/or withdraw registration on the Exchange.1

☒ Pursuant to 17 CFR 240.12d2-2(c), the Issuer has complied with the rules of the Exchange and the requirements of 17 CFR 240.12d2-2(c) governing the voluntary withdrawal of the class of securities from listing and registration on the Exchange.

1 Form 25 and attached Notice will be considered compliance with the provisions of 17 CFR 240.19d-1 as applicable. See General Instructions.

Pursuant to the requirements of the Securities Exchange Act of 1934, Enhanced Group Inc. certifies that it has reasonable grounds to believe that it meets all of the requirements for filing the Form 25 and has caused this notification to be signed on its behalf by the undersigned duly authorized person.

May 7, 2026

By

/s/ Emily Tabak

Chief Legal Officer

Date

Name

Title