SEC Filing Summary: Western Acquisition Ventures Corp.
Business Context and Reporting Period
This Form 8-K was filed on January 16, 2025, by Western Acquisition Ventures Corp. (not Cycurion, Inc., as noted in the metadata request). The registrant is a Special Purpose Acquisition Company (SPAC) incorporated in Delaware. The filing addresses the company's failure to complete an initial business combination within the required 36-month window following its IPO.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The report focuses exclusively on regulatory status and listing changes rather than financial performance data.
Material Changes
- Delisting from Nasdaq: The company received notice that its securities will be delisted from The Nasdaq Stock Market due to non-compliance with Rule IM-5101-2, which mandates a business combination within 36 months of the IPO.
- Trading Suspension: Trading of common stock, warrants, and units on Nasdaq is scheduled to be suspended at the opening of business on January 23, 2025.
- Transfer to OTC Market: FINRA has assigned new trading symbols (WAVS, WAVSW, WAVSU) for the company's securities. Effective January 23, 2025, these securities will be quoted and traded in the over-the-counter (OTC) market.
Outlook, Risks, and Management Commentary
The primary risk identified is the loss of Nasdaq listing status, which typically impacts liquidity and investor accessibility. The company has not provided forward-looking guidance, management commentary on future strategy, or details on contingencies beyond the mandatory delisting process. The filing confirms the company failed to meet the January 11, 2025, deadline for its initial business combination.
Key Facts for Investor Verification
- Verify the exact date of trading suspension (January 23, 2025) and the transition to OTC trading.
- Confirm the new ticker symbols: WAVS (common stock), WAVSW (warrants), and WAVSU (units).
- Assess the impact of OTC trading on the liquidity and valuation of existing holdings.
- Investigate whether the company has announced any plans to liquidate or extend its timeline for a business combination post-delisting.