Ross Acquisition II announced today that the New York Stock Exchange notified the company it plans to suspend trading of Ross II's stock and commence delisting proceedings. The decision is based on an exchange rule requiring blank-check companies to compklete a deal within three years after an ipo.

Ross II said it does not intend to appeal the NYSE decision, but will instead pursue a listing on the Nasdaq.

Ross II is sponsored by Ross Holding Company, an affiliate of Wilbur L. Ross (the commerce secretary under former President Donald trump), Stephen J. Toy, and Nadim Z. Qureshi. The SPAC raised $300 million in an IPO, initially to target companies engaged in EVs, renewable energy and tech.  

Ross II last August called off a $320 million merger agreement with hong kong-based APRINOIA Therapeutics. Read more.

Source: Ross Acquisition II Expects Suspension and De-Listing from NYSE