$BAYA New 10-Q confirms:
• Nasdaq trading suspended since July 7
• BAYA formally appealed the delisting decision
• Appeal filed July 17, supporting memo July 31
• They’re asking Nasdaq for an extension until Dec. 19
• Oabay merger agreement is still described as active
• $10.76M remains in trust
• Only 881,636 redeemable public shares remain
• Redemption value was $12.21/share as of June 30
• Another $50K was deposited into the trust on July 14
So this doesn’t look like a SPAC that has simply given up.
Interesting setup now: either the Oabay deal somehow gets completed, or liquidation could return roughly the trust value to public shareholders.
At this point, the merger might actually be the riskier outcome. 👀
$BAYA: Complete trash "Shell Company" play....Could easily make 500% move at any time. $ALCY & $TBMC crowd finding....MUCH easier ripper than those two.
