Nocturne Acquisition Corporation Announces Receipt of a Second Notification from Nasdaq

WILMINGTON, DE / ACCESSWIRE / May 30, 2023 / Nocturne Acquisition Corporation (NASDAQ:MBTC, MBTCU, MBTCR) (the "Company", "MBTC"), today announced that it has received a second notification (the "Second Notification") on May 24, 2023 from the Listing Qualifications Department of The Nasdaq Stock Market ("Nasdaq") as a result of its failure to file its Quarterly Report on Form 10-Q for the period ended March 31, 2023 (the "Form 10-Q"), and remaining delinquent in filing its Annual Report on Form 10-K for the period ended December 31, 2022 (the "Form 10-K"). The Second Notification advised the Company that it was not in compliance with Nasdaq's continued listing requirements under the timely filing criteria established in Nasdaq Listing Rule 5250(c)(1). The Company has since filed its Form 10-K, and is working diligently to complete and file the Form 10-Q as soon as practicable.

In accordance with Nasdaq's letter dated April 21, 2023, the Company has until June 20, 2023, to submit a plan to regain compliance with respect to these delinquent reports. Please note that any Staff exception to allow the Company to regain compliance, if granted, will be limited to a maximum of 180 calendar days from the due date of the Initial Delinquent Filing, or October 16, 2023. However, there can be no assurance that Nasdaq will accept the Company's plan to regain compliance or that the Company will be able to regain compliance within any extension period granted by Nasdaq. If Nasdaq does not accept the Company's plan, then the Company will have the opportunity to appeal that decision to a Nasdaq hearings panel.

About Nocturne Acquisition Corporation

The Company is a blank check company incorporated as a Cayman Islands exempted company on October 28, 2020. The Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more business. The Company completed its initial public offering on April 5, 2021. The Company is led by Henry Monzon, its Chief Executive Officer, and Ka Seng (Thomas) Ao, its Chief Financial Officer.

Forward-Looking Statements

This press release may include, and oral statements made from time to time by representatives of the Company "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding possible business combinations and the financing thereof, the Company's ability to regain compliance with applicable Nasdaq rules on a timely basis or at all, and related matters, as well as all other statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company's filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus for the Company's initial public offering filed with the SEC and in the corresponding section of the Form 10-K. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

MBTC Investor Contact:

Chris Tyson/Doug Hobbs
MZ SPAC IR
(949) 491-8235
MBTC@mzgroup.us

MBTC Contact:

Ka Seng (Thomas) Ao
Chief Financial Officer
Nocturne Acquisition Corporation
(650) 935-0312

SOURCE: Nocturne Acquisition Corporation

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