UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

~~PURSUANT~~Pursuant TOto ~~SECTION~~ Section 13 ORor Section 15(d)

OFof ~~THE~~the ~~SECURITIES~~Securities ~~EXCHANGE~~Exchange ~~ACT~~Act OFof 1934

Date of Report (Date of earliest event reported): ~~March~~April 251, 2025

~~Marblegate~~ ~~Acquisition~~MARBLEGATE ~~Corp~~ACQUISITION CORP.

(Exact name of registrant as specified in its charter)

Delaware	001-40862	85-4249135
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(I.R.S. Employer Identification Number)

411 Theodore Fremd Avenue

Suite 206S

Rye, New York 10580

(Address of principal executive offices~~, including zip code~~)

Registrant’s telephone number, including area code: (914) 415-4081

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☒	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Units, each consisting of one share of Class A Common Stock and one-half of one redeemable warrant	GATEU	The Nasdaq Stock Market LLC
Shares of Class A Common Stock, par value $0.0001 per share	GATE	The Nasdaq Stock Market LLC
Warrants, each exercisable for one share of Class A Common Stock at a price of $11.50	GATEW	The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 53.0701. ~~Submission~~Notice of ~~Matters~~Delisting or Failure to Satisfy a ~~Vote~~Continued ofListing ~~Security~~Rule ~~Holders~~or Standard; Transfer of Listing.

OnAs ~~March~~previously disclosed, on October 251, ~~2025~~2024, Marblegate Acquisition Corp. (the “Company”) orreceived a notice (the “~~MAC~~Notice”) ~~held~~ from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company was not in compliance with Listing Rule IM-5101-2, which requires that a special ~~meeting~~purpose acquisition company complete one or more business combinations within 36 months of ~~stockholders~~the effectiveness of the registration statement filed in connection with its initial public offering. In response to the Notice, the Company timely requested a hearing before a Nasdaq Hearings Panel (the “~~Meeting~~Panel”), towhich ~~approve~~was ~~and~~held ~~adopt~~on November 19, 2024. On December 19, 2024, the Company received a written notice (ithe “Decision”) from Nasdaq that the Panel had granted the Company’s request to continue its listing on Nasdaq until March 31, 2025 (the ~~Business~~“Extended ~~Combination~~Date”), ~~Agreement~~provided that the Company complies with certain conditions, including that the Company will have completed its previously announced business combination pursuant to that certain business combination agreement dated as of February 14, 2023 (the “Business Combination Agreement”), by and among ~~MAC,~~ Marblegate Asset Management, LLC, Marblegate Capital Corporation (“New MAC”), MAC Merger Sub, Inc. ~~(“Merger Sub”)~~, DePalma Acquisition I LLC (“DePalma I”), and DePalma Acquisition II LLC (“DePalma II” and, together with DePalma I, the “DePalma Companies”); ~~and~~ (~~ii) an~~such ~~amendment~~transactions ~~and~~contemplated ~~restatement~~by of the ~~Company’s~~Business ~~current~~Combination ~~Amended and Restated Certificate of Incorporation (as amended~~Agreement, the “~~Existing~~Business ~~Charter~~Combination”) ~~and,~~on ~~together~~or ~~with~~before the ~~Amended~~Extended Date, and ~~Restated~~that ~~Bylaws of MAC,~~ the ~~“Existing~~combined ~~Organizational~~company ~~Documents”)~~will ~~and~~have ~~the~~demonstrated ~~material~~compliance ~~differences~~with ~~between~~all ~~the~~applicable ~~proposed~~requirements ~~Amended~~for ~~and~~an ~~Restated~~initial ~~Certificate~~listing ofon ~~Incorporation~~Nasdaq. ofFurther ~~New~~information ~~MAC~~about (the ~~“Proposed~~Business ~~Charter”~~Combination ~~and,~~is ~~together~~set ~~with~~forth in the ~~proposed~~definitive ~~Amended~~proxy ~~and~~statement/prospectus ~~Restated Bylaws~~ of ~~New MAC (~~the ~~“Proposed Bylaws”)~~Company, ~~the~~New ~~“Proposed~~MAC ~~Organizational Documents”)~~ and the ~~Existing~~DePalma ~~Charter,~~Companies ~~each~~(File asNo. 333-283675) ~~more fully described in~~ (the ~~proxy statement/prospectus of New MAC (~~“Proxy Statement/Prospectus”), filed with ~~United~~the ~~States~~ Securities and Exchange Commission (the “SEC”) on February 14, 2025.

~~Pursuant~~On toApril 2, ~~the Business Combination Agreement~~2025, ~~and subject to~~ the ~~terms~~Company ~~and~~received ~~conditions~~a ~~contained~~written ~~therein,~~notice ~~among~~(the ~~other~~“Delisting ~~things,~~Notice”) onfrom the ~~date~~Panel ofindicating ~~closing~~that of the ~~Business~~Panel ~~Combination~~had ~~(as~~determined ~~defined below): (i) immediately prior~~ to ~~the~~delist ~~consummation of~~ the ~~transactions~~Company’s ~~contemplated~~securities byfrom ~~the~~Nasdaq ~~Business~~and ~~Combination~~that ~~Agreement,~~trading ~~New~~in ~~MAC and~~ the ~~DePalma~~Company’s ~~Companies~~securities ~~will~~would ~~effect~~be asuspended ~~series~~at ~~of reorganization transactions, resulting in~~ the ~~DePalma~~open ~~Companies becoming wholly-owned subsidiaries~~ of ~~New~~trading ~~MAC;~~on ~~and (ii)~~April ~~Merger~~4, ~~Sub will merge with and into MAC (the “Merger”)~~2025, ~~with~~due ~~MAC~~to ~~surviving~~ the ~~Merger~~Company’s asfailure ato ~~wholly-owned~~satisfy ~~subsidiary of New MAC, in accordance with~~ the terms ~~and subject to the conditions~~ of the ~~Business~~Panel’s ~~Combination~~Decision, ~~Agreement~~including (the ~~transactions~~requirement ~~contemplated~~that by the ~~Business~~Company ~~Combination~~will ~~Agreement,~~have completed the “Business Combination~~”).~~ ~~All~~on ~~capitalized~~or ~~terms~~before ~~used herein not otherwise defined shall have~~ the ~~meanings~~Extended ~~assigned to them in the Proxy Statement/Prospectus~~Date.

~~There~~In ~~were~~connection ~~4,968,176~~with ~~shares~~the ofdelisting ~~Class A common stock, par value $0.0001 per share (“Class A Common Stock”), 6,303,333 shares of Class B common stock, par value $0.0001 per share (“Class B Common Stock”),~~ and ~~310~~suspension,~~703~~ ~~units~~Nasdaq ofhas ~~the~~advised ~~Company~~that ~~outstanding~~it aswill ofcomplete ~~February 10, 2025,~~ the ~~record~~delisting ~~date~~by ~~for~~filing ~~the~~a ~~Meeting.~~Notification ~~At the Meeting, holders~~ of atRemoval ~~least~~from ~~4,874,260~~Listing ~~shares~~and/or ofRegistration ~~Class A~~under ~~Common Stock~~ Section 12(~~including~~b) ~~shares~~ of ~~Class A Common Stock held through units of~~ the ~~Company)~~Securities and ~~4,673,219~~Exchange ~~shares~~Act of ~~Class B~~1934 ~~Common~~on ~~Stock~~Form ~~were~~25 ~~represented~~with inthe ~~person~~SEC orafter ~~by proxy, representing approximately 82.4% of~~ the ~~total~~applicable ~~shares~~Nasdaq ofreview ~~common~~and ~~stock~~appeal ofperiods ~~the~~have ~~Company, which constituted a quorum~~lapsed.

~~Set~~Following ~~forth~~suspension ~~below~~of ~~are~~trading on Nasdaq, the ~~proposals~~Company’s ~~voted~~common ~~upon~~stock, atunits and warrants will be eligible to trade on the ~~Meeting~~OTC Markets under the tickers “GATE,” “GATEU,” and “GATEW,” respectively. There may be a very limited market in which the ~~final~~Company’s ~~voting~~securities ~~results~~are traded, and the trading price of the Company’s securities may be adversely affected. The Company can provide no assurance that its securities will continue to trade on this market, whether broker-dealers will continue to provide public quotes of its securities on this market, or whether the trading volume of its securities will be sufficient to provide for an efficient trading market for existing and potential holders of its securities.

~~Proposal~~Notwithstanding 1the –delisting ~~The~~of the Company’s securities from Nasdaq, it remains the intention of the Company to complete the Business Combination ~~Proposal~~as described in the Proxy Statement/Prospectus soon as practicable. ToIn ~~consider~~connection therewith, the Company, New MAC and ~~vote~~the ~~upon~~DePalma aCompanies ~~proposal~~have applied to ~~approve~~have ~~and~~the ~~adopt~~combined company’s securities listed on the ~~Business~~Nasdaq ~~Combination~~following ~~Agreement~~the ~~(such~~consummation ~~proposal,~~of the “Business Combination ~~Proposal”)~~.

FOR		AGAINST		ABSTAIN
9,512,836		34,643		0

Item 8.01.

Other Events.

~~Proposal~~On 2April –1, ~~The~~2025, ~~Organizational~~Nasdaq ~~Document~~halted ~~Proposals.~~trading Toin ~~consider and vote upon an amendment and restatement of~~ the ~~Existing~~Company’s ~~Charter~~securities. ~~and~~Nasdaq ~~the~~has ~~following~~not ~~material~~indicated ~~differences~~when ~~between~~ the ~~Proposed~~trading ~~Charter~~halt ~~and~~on the ~~Existing~~Company’s ~~Charter~~securities ~~(such~~would ~~proposals,~~be ~~collectively~~lifted, ~~the~~if ~~“Organizational~~at ~~Document~~all. ~~Proposals”):~~

Proposal 2a. To approve the provision in the Proposed Charter changing the authorized capital stock of 221,000,000 shares, consisting of 200,000,000 shares of Class A Common Stock, 20,000,000 shares of Class B Common Stock, and 1,000,000 preferred shares, par value $0.0001 per share, to authorized capital stock of 260,000,000 shares, consisting of 250,000,000 shares of common stock, par value $0.0001 per share (“New MAC Common Stock”), of New MAC, and 10,000,000 shares of undesignated preferred stock, par value $0.0001 per share;

FOR		AGAINST		ABSTAIN
9,512,056		35,423		0

Proposal 2b. To approve the provision in the Proposed Charter pursuant to which: the affirmative vote of the holders of at least 66 2/3% of the total voting power of all then outstanding shares of New MAC Common Stock entitled to vote generally in the election of directors, voting together as a single class is required to amend provisions relating to, among other matters: (i) stockholder meetings, (ii) the board of directors and (iii) amendment of the Proposed Charter;

FOR		AGAINST		ABSTAIN
9,512,056		35,423		0

Proposal 2c. To approve all other changes in connection with the replacement of the Existing Organizational Documents of MAC with the Proposed Organizational Documents of New MAC, including, among other things, changing from a blank check company seeking a business combination within a certain period (as provided in the Existing Organizational Documents), to a corporation having perpetual existence (as provided in the Proposed Charter); and

FOR		AGAINST		ABSTAIN
9,512,056		35,423		0

Proposal 2d. To provide for a single class of board of directors and direct that board vacancies be filled by the majority of directors then in office, unless specified otherwise in the Proposed Bylaws.

FOR		AGAINST		ABSTAIN
9,546,699		780		0

Proposal No. 3: The Adjournment Proposal. The Company had solicited proxies in favor of an adjournment proposal that would have given the Company authority to adjourn the Meeting to solicit additional proxies. As sufficient shares were voted in favor of the Business Combination Proposal and the Organizational Document Proposals, this proposal was not voted upon at the Meeting.

Item 8.01 Other Events.

Redemptions

In connection with the Meeting, holders of shares of Class A Common Stock had the right to elect to redeem all or a portion of their shares of Class A Common Stock for a per share price calculated in accordance with MAC’s Existing Organizational Documents. MAC’s public stockholders holding 322,274 shares of the Class A Common Stock exercised their right to redeem such shares for a pro rata portion of the funds in the Company’s trust account. As a result, approximately $3.5 million (approximately $10.92 per share) will be removed from the Company’s trust account to pay such holders.

Based on the results of the Meeting, and subject to the satisfaction or waiver of certain other closing conditions as described in the Proxy Statement/Prospectus, the Business Combination is expected to be consummated on March 31, 2025.

Determination of DePalma Equity Value

In connection with the proposed Business Combination, the Company determined the DePalma I Equity Value and the DePalma II Equity Value (each as defined in the Business Combination Agreement) to be $260.4 million and $369.1 million, respectively, as of the closing of the proposed Business Combination, including the designation made by DePalma I of the amount in cash of $29.6 million mutually agreed upon by the DePalma Companies and the Company that is sufficient to fund the working capital needs of the parties, pursuant to the terms of the Business Combination Agreement.

Important Information and Where to Find It

For additional information on the proposed Business Combination, see the relevant materials that ~~MAC~~the Company has filed with the Securities and Exchange Commission (the “SEC”), including a registration statement on Form S-4, which includes the Proxy Statement/Prospectus of the Company, ~~the~~New ~~DePalma~~MAC ~~Companies~~ and ~~New~~the ~~MAC~~DePalma Companies. ~~MAC~~The Company’s stockholders and other interested persons are advised to read the ~~definitive~~Proxy ~~proxy statement~~Statement/~~prospectus~~Prospectus filed with the SEC in connection with the proposed Business Combination, as these materials contain important information about the DePalma Companies, ~~MAC~~the Company, New MAC and the proposed Business Combination. MAC has mailed the definitive proxy statement/prospectus and other relevant materials to stockholders of MAC as of February 10, 2025, the record date for voting on, among other things, the proposed Business Combination. Stockholders are also able to obtain copies of the ~~definitive~~Proxy ~~proxy statement~~Statement/~~prospectus~~Prospectus, and other documents filed with the SEC, without charge at the SEC’s website at www.sec.gov. The information contained on, or that may be accessed through, the websites referenced in this communication is not incorporated by reference into, and is not a part of, this communication.

No Offer or Solicitation

This communication is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities in connection with the proposed Business Combination shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.

Forward Looking Statements

This communication contains “forward-looking statements,” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may generally be identified by terminology such as “will,” “shall,” “may,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar words or expressions that predict or indicate future events or trends that are not statements of historical matters. These statements are only predictions. The Company and DePalma have based these forward-looking statements largely on their then-current expectations and projections about future events and financial trends as well as the beliefs and assumptions of management. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond each of the Company’s and the DePalma Companies’s control. Actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: (i) ~~risks~~the ~~associated~~expected ~~with~~filing of the Form 25 by Nasdaq; (ii) the Company’s ~~ability~~expectations that its securities will be eligible to ~~obtain~~trade on the ~~stockholder~~OTC ~~approval~~Markets, ~~required~~and the Company’s expectations regarding the impact of its securities trading on the OTC Markets; (iii) the Company’s ability to ~~consummate~~have the ~~proposed~~combined ~~transactions~~company’s ~~and~~securities listed on Nasdaq following the Business Combination; (iv) risks associated with the timing of the closing of the proposed transaction, including the risks that a condition to closing would not be satisfied or waived within the expected timeframe or at all or that the closing of the proposed transactions will not occur; (iiv) the outcome of any legal proceedings that may be instituted against the parties and others related to the proposed transactions; and (~~iii~~vi) the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the proposed transactions. More information on potential factors that could affect ~~MAC~~the Company’s or the DePalma Companies’s financial results is included from time to time in ~~MAC~~the Company’s public reports filed with the SEC that are available on the SEC’s website at www.sec.gov, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, as well as the ~~definitive~~Proxy ~~proxy statement~~Statement/~~prospectus~~Prospectus the Company, New MAC and the DePalma Companies filed in connection with ~~MAC’s~~its solicitation of proxies for the meeting of stockholders to be held to approve, among other things, the proposed Business Combination. All of the forward-looking statements made in this Current Report on Form 8-K are expressly qualified by the cautionary statements contained or referred to herein. Accordingly, you should not rely upon forward-looking statements as predictions of future events. Neither the Company nor the DePalma Companies can assure you that the events and circumstances reflected in the forward-looking statements will be achieved or occur, and actual results could differ materially from those projected in the forward-looking statements. The forward-looking statements made in this communication relate only to events as of the date on which the statements are made. Except as required by applicable law or regulation, the Company and the DePalma Companies undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of an unanticipated event.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: April 3, 2025


MARBLEGATE ACQUISITION CORP.

By:		/s/ Jeffrey Kravetz
Name:		Jeffrey Kravetz
Title:		Chief Financial Officer

Dated: March 25, 2025

MARBLEGATE ACQUISITION CORP.

/s/ Jeffrey Kravetz

Jeffrey Kravetz

Chief Financial Officer

Filing Compare · Marblegate Acquisition Corp.