Check-Cap Ltd. (NASDAQ: MBAI) announced today that it has made significant progress in its Nasdaq listing process related to the proposed merger with MBody AI Corp. The company has responded to all questions from Nasdaq's Supplemental Information Request Form, marking a key step toward finalizing the business combination.
Nasdaq Review Progress
Nasdaq completed its initial review of the listing application, originally submitted on February 24, 2026. Check-Cap promptly submitted responses to all inquiries, moving the process forward. This review is a standard part of the Nasdaq listing procedure and represents one of the final regulatory hurdles before the combined entity can trade on the Nasdaq Capital Market.
Merger Timeline and Shareholder Approval
The merger with MBody AI Corp. has already received shareholder approval and remains on track to close in the first half of 2026, subject to customary closing conditions. Check-Cap also filed its 2025 Annual Report on Form 20-F on April 27, 2026, and expects to become shelf-eligible as of May 1, 2026.
Commercial Momentum
MBody AI has been expanding its commercial footprint, including deployments with a Fortune 500 operator. Initial pilot programs have converted into multi-location deployments and subsequent expansion orders, demonstrating consistent enterprise adoption driven by performance in live environments.
Executive Comments
John Fowler, CEO of MBody AI, stated: "We are seeing strong alignment between commercial momentum and capital markets progress. As deployments scale across enterprise customers, we are moving with urgency to complete this process and provide public market investors access to a business that is already operating and expanding in real environments."
David Lontini, Chairman and Interim CEO of Check-Cap, added: "Responding to Nasdaq's review comments is a meaningful step in this process. The Board remains focused on completing each remaining step in a disciplined way and on delivering this transaction for our shareholders."
The company continues to advance both its regulatory and commercial objectives, positioning the combined entity for a public market debut in the near future.
