IGTAU · Inception Growth Acquisition Limited

The withdrawal of the Nasdaq listing application represents a material deviation from the originally disclosed path to public market access for the combined entity. While the Business Combination itself remains intact—contemplating a Redomestication Merger followed by an exchange of AgileAlgo shares for PubCo ordinary shares—the failure to secure Nasdaq listing introduces significant uncertainty regarding liquidity, investor accessibility, valuation benchmarks, and institutional eligibility for the post-combination securities. The continued OTC Markets listing preserves basic trading functionality but lacks the regulatory oversight, disclosure expectations, and market credibility associated with Nasdaq. Because the filing explicitly states that the parties are now evaluating 'alternative listing venues and other strategic alternatives', investors must consider potential delays, additional costs, structural modifications to the transaction, or even reconsideration of the combination’s viability. Notably, the withdrawal occurred after consultation with Nasdaq—suggesting possible unresolved eligibility or compliance concerns—but no details about the nature of those discussions or deficiencies are disclosed. This event materially affects the investment thesis tied to the anticipated Nasdaq listing as a key value inflection point.