JENA · Jena Acquisition Corporation II

Jena Acquisition Corporation II faces a significant regulatory challenge with its NYSE listing status due to falling below the minimum 300 public stockholders requirement under Section 802.01B of the NYSE Listed Company Manual. The company received formal notification on April 1, 2026, triggering a structured compliance process that requires submission of a business plan within 45 days. This plan must demonstrate how the company expects to return to compliance within 18 months through completion of a de-SPAC transaction. The NYSE will review the plan within 45 days of receipt to determine if it reasonably demonstrates the company's ability to regain compliance. Importantly, the notice has no immediate impact on the listing or trading of the company's securities, and provided the NYSE approves the plan, the securities will continue trading under their existing ticker symbols during the entire 18-month cure period. This situation creates uncertainty around the company's ability to maintain its listing status long-term while providing a clear pathway to resolution through business combination activities. The company's status as a blank check company formed for business combination purposes aligns with the required compliance approach through de-SPAC transaction completion.