Nasdaq Files Form 25 to Delist Abpro Holdings Common Stock and Warrants

What happened

Nasdaq Stock Market LLC filed a Form 25 with the Securities and Exchange Commission on September 30, 2026 to strike Abpro Holdings, Inc.'s Class A common stock and warrants from listing and from registration under Section 12(b) of the Securities Exchange Act of 1934, according to the filing.

The form identifies the issuer as Abpro Holdings, Inc., headquartered at 100 Summit Drive, Burlington, Massachusetts, and lists the affected securities as "Class A Common Stock and Warrants." It is signed by Aravind Menon, identified as Hearings Advisor at Nasdaq.

The shares closed at $0.353 on September 30, 2026, down 6.86% from the prior close of $0.379, according to the price data.

The filing does not state the reason Nasdaq moved to delist the securities. The Form 25 text provided does not identify which of the four rule provisions under 17 CFR 240.12d2-2 was relied upon, and no other source in the material explains the cause.

The company

Abpro Holdings is classified under Biological Products (No Diagnostic Substances), a category of companies that develop biological medicines — treatments manufactured in or derived from living cells — as opposed to chemically synthesized drugs.

The company is thinly covered. Its stock traded below a dollar per share on the day the delisting notice was filed, and the only public document described here is the exchange's delisting notification.

The warrant portion of the filing matters for readers new to the term: warrants are contracts giving the holder the right, but not the obligation, to buy shares at a set price before a set date. They trade alongside stock, and they are listed securities in their own right — which is why Nasdaq's notice covers them together with the common stock.

What this means

A Form 25 is the document that removes a security from an exchange listing and from the registration that listing requires. Either the company or the exchange can file it. Here, Nasdaq filed it, which the form makes clear: the certification language states the exchange "has complied with its rules to strike the class of securities from listing and/or withdraw registration on the Exchange," and the signature block is Nasdaq's, not the company's.

This is the opposite of routine paperwork. When the Form 25 concerns common stock — as this one does — it ends the company's ability to have its shares traded on that exchange. That is different from a Form 25 filed for debt securities such as notes or bonds approaching maturity, which often just reflects a bond being repaid on schedule. No such ambiguity applies here: the form names equity and warrants.

The legal hook is Section 12(b) of the Securities Exchange Act of 1934. A company whose stock is listed on a national exchange must register that class of securities with the SEC under that section, which brings ongoing disclosure obligations. Removing the listing removes the registration, and with it those obligations, for the securities named in the form.

The mechanics of what happens next are set by exchange rules rather than by the filing itself. A delisted stock typically moves to the over-the-counter market, where trades are arranged between dealers rather than through a centralized exchange, and quoted prices are often far less visible. That is a general consequence of delisting; the filing does not say whether Abpro intends to trade over the counter, and nothing in the provided material indicates what the company plans.

The filing does not say why Nasdaq acted, does not give an effective date for the removal, and does not state whether Abpro will contest the action. Any of those details would have to come from a separate company announcement or a later filing, neither of which is included here. Readers should treat the cause as unestablished on this record.