Alchemy Investments Acquisition Corp 1 Delisting Notice; Trading to Shift to OTC

What Happened

• Alchemy Investments Acquisition Corp 1 (ALCY) filed an 8-K reporting that on April 7, 2026 Nasdaq notified the company it failed to comply with Nasdaq Interpretive Material IM-5101-2 and its securities are subject to delisting.
• The company’s IPO registration statement became effective May 4, 2023; under IM-5101-2 a SPAC must complete a business combination within 36 months. Alchemy did not complete a business combination by May 4, 2026.
• Alchemy will not appeal Nasdaq’s determination. Nasdaq-listed trading will be suspended at the opening of business on May 14, 2026 and the company expects its securities to commence trading on the over-the-counter market that same day. A Form 25-NSE will be filed to remove the securities from Nasdaq.

Key Details

• Registration effective date (IPO): May 4, 2023.
• 36-month deadline for SPAC business combination under IM-5101-2: May 4, 2026.
• Nasdaq delisting notice issued: April 7, 2026.
• Suspension of Nasdaq trading and OTC start date: May 14, 2026; the company will not seek an appeal.

Why It Matters

• For investors, the move from Nasdaq to the over-the-counter market typically means lower liquidity, wider bid-ask spreads, and potentially less visibility and regulatory oversight.
• The delisting stems from the SPAC’s failure to complete a required business combination within the 36-month window; this is a compliance action rather than a financial-restatement event.
• Shareholders should monitor the company’s OTC ticker activity and any further disclosures, and be aware that trading dynamics and institutional participation may change following the transfer.