Fellazo, Inc. (FLLC), which had previously arranged a Sponsor Transfer Agreement with TKK Capital, unfortunately announced this evening that they have been de-listed from the Nasdaq. Following suspension of trading on Nasdaq, the Company’s units, ordinary shares, warrants and rights will trade on the OTC Markets under the tickers “FLLCU,” “FLLC,” “FLLCW” and “FLLCR,” respectively, effective at the open of business on March 5, 2020.
As background, this process began in November, due to Fellazo’s inability to file a timely 10-Q. However, the Company received a subsequent letter from the Nasdaq Staff stating that the Company failed to provide complete responses regarding information surrounding compensation of the SPAC team members. Nonetheless, in February, TKK Capital stepped in with a proposed Sponsor Transfer Agreement where Fellazo would swap out it’s team and TKK would effectively take over the SPAC. However, that agreement was contingent on Fellazo not being de-listed, i.e., the Sponsor Transfer Agreement would be terminated in the event Nasdaq determines to de-list Fellazo’s securities.
Now that a de-listing has, in fact, occurred, the TKK agreement is most likely off, but since there hasn’t been an 8-K filing yet confirming that, we’ll have to wait to see. Perhaps there will be a further amendment to the Sponsor Transfer Agreement.
For now, Fellazo is a Bulletin Board stock, starting tomorrow.
Globa Terra Acquisition Corporation (NASDAQ:GTERU) announced the pricing of its $152 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “GTERU”, Wednesday, July 9, 2025. The new SPAC plans to mount a search for a target in the agriculture, agtech or biotech sectors with an emphasis on water...
M3-Brigade V (NASDAQ:MBAV) has entered into a definitive agreement to combine with crypto treasury firm ReserveOne, assembling about $1 billion in equity funding. ReserveOne is setting up a diversified Bitcoin and digital asset treasury with a portion of its investments going towards blockchain infrastructure and venture raises. The combined company is expected to trade on...
At the SPAC of Dawn As the SPAC market has warmed in 2025, only 21 of the 70 SPACs (30%) that have IPO’d thus far have overfunded their trusts to draw in investors and none of these funded to more than 101%. By contrast, 87% of 2023 SPACs were overfunded – some to as high...
Emmis Acquisition Corporation (NASDAQ:EMISU) has filed for a $100 million SPAC to take a look at the manufacturing sector after a few unique wrinkles in their IPO process. Initial investors are set to receive one right to a 1/10 share in each unit purchased and the SPAC will have 18 months to complete a business...
Chenghe III (NASDAQ:CHEC.U) has filed for a $110 million SPAC to continue the team’s growing series while turning to a new underwriter. The new SPAC is offering investors a 1/2 warrant in each unit and no overfunding of the trust, but it will need to complete a business combination within 18 months of its IPO...