Near Intelligence, Inc. Common Stock

NIR

Market cap $1.71M

Near Intelligence (NASDAQ: NIR ) stock is taking a beating on Monday after the data intelligence company filed for Chapter 11 bankruptcy protection. Near Intelligence is planning to sell all of its assets through the bankruptcy filing.

PASADENA, Calif.--(BUSINESS WIRE)--Near Intelligence, Inc. (NASDAQ:NIR) (“Near” or the “Company”), a privacy-led data intelligence company, today announced that it and certain of its subsidiaries (collectively, the “Debtors”) have voluntarily initiated a Chapter 11 proceeding in the United States Bankruptcy Court for the District of Delaware (“Bankruptcy Court”) and will seek to sell their assets through a court supervised sales process. The Company has also entered into a DIP financing agreeme.

Near Intelligence (NASDAQ: NIR ) stock is taking off on Monday without any clear news from the cloud-based data intelligence platform operator. There are no new press releases or filings with the Securities and Exchange Commission that explain why shares of NIR stock are up today.

PASADENA, Calif.--(BUSINESS WIRE)--Near Intelligence, Inc. (NASDAQ:NIR) (“Near” or the “Company”), a privacy-led data intelligence company, announced today that it received a notice (the “Notice”) from the Listing Qualifications Staff of the Nasdaq Stock Market LLC (“Nasdaq”) on November 16, 2023 stating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) as a result of the Company's failure to timely file its Quarterly Report on Form 10-Q for the fiscal quarter ended Sept.