Aldel Financial II Inc. has entered into a working capital agreement with its sponsor, Aldel Investors II LLC, and received notice of its impending delisting from the Nasdaq Stock Market. The Cayman Islands exempted company filed a Current Report on Form 8-K dated October 29, 2026, detailing these developments.
Under the agreement, the Company issued an unsecured promissory note to Aldel Investors II LLC with a principal amount of up to $1,000,000. The Company may draw down on this Note up to the maximum amount, with the Sponsor required to fund each request no later than five business days after receipt. The funds are designated for working capital purposes, specifically to cover extension payments pursuant to the Investment Management Trust Agreement dated October 21, 2024. The Note bears no interest and is payable in full upon the consummation of the Company’s initial business combination. A failure to pay the principal on this maturity date would constitute an event of default, potentially allowing for acceleration of the debt.
Separately, the Company reported that it received a letter from Nasdaq on October 28, 2026. The Listing Qualifications Department determined that the Company’s securities will be delisted from Nasdaq. As a result, trading of the Company’s ordinary shares, warrants, and units will be suspended at the opening of business on November 6, 2026. A Form 25-NSE will be filed with the SEC to remove the securities from listing and registration on Nasdaq. This action follows a notification on September 10, 2026, that the Company failed to meet the requirements of Nasdaq Listing Rule 5450(a)(2).
In other events, the Company received correspondence from the OTC Markets Group on October 29, 2026. The OTC Markets Group confirmed that FINRA has assigned trading symbols ALDF, ALDFU, and ALDFW to the Company’s Class A ordinary shares, units, and warrants, respectively. Consequently, effective November 6, 2026, the Company’s securities may be quoted and traded in the over-the-counter market.
