Business Context and Reporting Period
This Form 8-K is filed by Insight Acquisition Corp. (not Alpha Modus Holdings, Inc.) on September 27, 2024. The registrant is a Special Purpose Acquisition Company (SPAC) incorporated in Delaware with securities listed on The Nasdaq Stock Market under symbols INAQ, INAQW, and INAQU.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on regulatory compliance and listing status rather than financial performance.
Material Changes
- Delisting Notice: The Company received a notice from Nasdaq stating it failed to comply with Interpretive Material IM-5101-2.
- Reason for Non-Compliance: The Company failed to complete an initial business combination within 36 months of its IPO registration statement effectiveness (September 1, 2021), with the deadline passing on September 1, 2024.
- Consequence: The Company's securities are now subject to delisting.
Outlook, Risks, and Management Commentary
- Appeal Plan: Management intends to request an appeal of the delisting determination.
- Deadlines: An appeal must be requested by October 4, 2024.
- Trading Suspension Risk: If no appeal is requested by the deadline, trading will be suspended at the opening of business on October 8, 2024, and a Form 25-NSE will be filed to remove the securities from Nasdaq.
Investor Verification Checklist
- Verify the status of the Company's appeal request by October 4, 2024.
- Confirm whether trading has been suspended on October 8, 2024, if no appeal is filed.
- Review the Company's trust account balance and redemption rights for shareholders in the event of liquidation.
- Check for any subsequent filings regarding the outcome of the appeal or a potential business combination.