Nasdaq Files Form 25 to Withdraw Baijiayun (RTC) Class A Listing

Rhea-AI Filing Summary

Baijiayun Group Ltd's Class A Ordinary Shares are subject to removal from listing and/or registration on the Nasdaq Stock Market via a Form 25 notification under Section 12(b) of the Exchange Act. The Exchange certifies it has followed the procedures of 17 CFR 240.12d2-2 and notes the issuer met voluntary withdrawal requirements, indicating a formal delisting action for this class of securities.

Positive

• Nasdaq certified compliance with 17 CFR 240.12d2-2, indicating procedural requirements were followed
• Filing notes issuer complied with voluntary withdrawal rules, showing the removal adheres to exchange and regulatory procedures

Negative

• Class A Ordinary Shares will be removed from Nasdaq listing and/or registration, representing a formal delisting action
• Delisting is likely to reduce liquidity and investor access, which is material for shareholders and market participants

Insights

Securities Analyst

TL;DR: Form 25 notifies Nasdaq removal of Baijiayun Class A shares — a materially negative development for market access and liquidity.

The filing is a formal notification to remove Baijiayun's Class A Ordinary Shares from Nasdaq listing/registration under Section 12(b). Such an action is material because exchange-listed status affects visibility, regulatory reporting obligations tied to listing, and typical liquidity for shareholders. The Exchange confirms procedural compliance with 17 CFR 240.12d2-2.

Corporate Governance Expert

TL;DR: Nasdaq and the issuer have certified compliance with delisting procedures, but the outcome is a negative governance event for shareholders.

The document shows the Exchange followed the prescribed rule framework (referencing 17 CFR 240.12d2-2) and the issuer satisfied voluntary withdrawal provisions. From a governance perspective, voluntary or involuntary removal from a national exchange reduces shareholder access to listed-market protections and can complicate corporate oversight and investor relations.

FAQ

What did Baijiayun Group Ltd (RTC) file with the SEC?

A Form 25 notification to remove its Class A Ordinary Shares from listing and/or registration on the Nasdaq Stock Market under Section 12(b).

Which class of Baijiayun shares is affected?

Class A Ordinary Shares are the class identified for removal from Nasdaq listing/registration.

Which exchange submitted the Form 25 for Baijiayun (RTC)?

Nasdaq Stock Market LLC certified the Form 25 notifying removal of the listed securities.

Does the filing state compliance with specific rules?

Yes; the filing references compliance with 17 CFR 240.12d2-2 and notes the issuer met voluntary withdrawal requirements.

Who signed the Form 25 on behalf of the Exchange?

Aravind Menon, Hearings Advisor, signed the notification on behalf of Nasdaq.

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

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Accepted by SEC EDGAR 08/08/2025 - 03:17 PM Learn about SEC filing dates

UNITED STATES

OMB APPROVAL

OMB Number:			3235-0080
Expires:	March 31, 2018
Estimated average burden
hours per response:			1.7

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

001-33176

Issuer:	Baijiayun Group Ltd
Exchange:	Nasdaq Stock Market LLC

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

Address:	32 Fengzhan Road
	Yuhuatai District
	Nanjing	CHINA	261061 CH
Telephone number:					0536-888-4280

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

Class A Ordinary Shares

(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 its rules of the Exchange and the requirements of 17 CFR 240.12d-2(c) governing the voluntary withdrawal of the class of securities from listing and registration on the Exchange.

Pursuant to the requirements fo the Securities Exchange Act of 1934, Nasdaq Stock Market LLC 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.

2025-08-08	By	Aravind Menon		Hearings Advisor
Date		Name		Title

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

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.