Special Purpose Acquisition Company ESH Acquisition Corp recently disclosed that it has officially received a compliance deficiency notice from the Nasdaq Stock Exchange.

The notice indicates that the company currently fails to meet the requirements related to continued listing standards. In response to this situation, the board of directors has decided to initiate a public share redemption procedure, under which cash redemptions of publicly issued common shares will be made as prescribed in the charter. Following the completion of the share redemption, ESH Acquisition Corp will enter the voluntary dissolution and liquidation stage, and plans to submit dissolution application documents to the relevant regulatory authorities. This action marks the SPAC platform’s official entry into the termination of operations process after failing to complete its acquisition target. The company stated it will properly handle subsequent liquidation and investor compensation matters in accordance with securities regulations.