NEW YORK, June 3, 2026, 06:03 (EDT)
- YHN Acquisition I finished at $10.83, up 6 cents from the last close, ahead of the regular session on Nasdaq.
- The blank-check firm faces a June 19 deadline to close a deal, unless it opts for more extensions.
- The Mingde deal stays in the spotlight as Nasdaq deficiency notices stack up and cash remains tight.
Shares of YHN Acquisition I Limited were flat ahead of Wednesday’s regular trading on Nasdaq. The small SPAC’s stock stayed close to trust value, with investors waiting for June, when its pending deal with Mingde Technology hits deadline.
The stock was last at $10.83, up 6 cents from the last close, and valued the company at about $46.4 million, according to market data. The most recent trade came at 20:15 UTC on Tuesday, following the regular Nasdaq session.
YHN isn’t a regular operating company at this point. The stock is a SPAC, or special purpose acquisition company — basically a listed cash shell that collects funds before finding a business to buy. For YHN, the share price tends to track how much cash is in trust, the value of redemption rights, and how likely a deal is to close, not sales or earnings.
Nasdaq’s normal trading runs from 9:30 a.m. to 4:00 p.m. Eastern, and pre-market starts at 4:00 a.m. The exchange does not include June 3 on its 2026 holiday calendar.
YHN reported in its most recent quarterly filing it held $27.4 million in cash and marketable securities in trust as of March 31, with only $22,788 in cash outside of trust. First-quarter net income was $95,567, mostly from interest and dividend income on trust investments, not operating revenue.
Mingde Technology Limited is set to combine with the company. According to a filing, Mingde runs online sports platforms and sells tech solutions to health-product stores. The total deal is $326 million, with up to $70 million more in earnout shares.
YHN pushed back its business combination deadline to June 19, according to a filing. The company made a $150,000 deposit into the trust account in March, marking its second reported extension payment. The filing is .
Thin trading happens a lot in this part of the market. Other acquisition-company stocks were near their cash-shell prices, with A SPAC III Acquisition at $11.045, Silver Pegasus Acquisition at $10.25, and Black Hawk Acquisition showing $11.92 on current quotes.
YHN is facing a risk from timing, rules, or redemptions before the deal wraps. The company got Nasdaq notices for falling short of market-value rules for its public shares and listed securities. YHN has until Oct. 14 to fix the problem, but the notices didn’t change trading for YHNA shares, according to the filing.
The company said it may have to conserve liquidity or cut back operations, or even stop trying for a transaction, if it can’t raise more capital. In its filing, the company said these issues create “substantial doubt” about its ability to keep going as a business if it doesn’t close a deal by Sept. 19 and all extensions are used. SEC
