AXAR ACQUISITION CORP. (NASDAQ:AXAR) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of ListingItem 3.01
On September 21, 2017, Axar Acquisition Corp. (the “Company” or “we”) was notified by The Nasdaq Stock Market LLC (“Nasdaq”) that on October 2, 2017 Nasdaq will delist the Company’s securities from Nasdaq and will file a Form 25 with the U.S. Securities and Exchange Commission to remove the Company’s securities from listing and registration on Nasdaq in connection with the Company’s previously announced redemption of all of its outstanding shares of common stock that were included in the units issued in its initial public offering.
About AXAR ACQUISITION CORP. (NASDAQ:AXAR)
Axar Acquisition Corp., formerly AR Capital Acquisition Corp., is a shell company. The Company is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company seeks to complete a business combination with an operating company in the asset management sector, but may also pursue acquisition opportunities in any industry or sector, except that, under its amended and restated certificate of incorporation, it will not be permitted to effectuate its business combination with another blank check company or similar company with nominal operations. The Company has not commenced any operations and has not generated any revenues.