Check-Cap Advances Nasdaq Listing for MBody AI Merger

Nasdaq completed its initial review of the listing application submitted in connection with the proposed merger between Check-Cap Ltd. and MBody AI Corp., and Check-Cap submitted responses to all questions in the Supplemental Information Request Form, according to a company press release distributed via Globe Newswire on April 30, 2026. The press release states the listing application was originally submitted on February 24, 2026 and is among the final regulatory steps before the combined company can commence trading on the Nasdaq Capital Market. The merger received shareholder approval in November 2025, with approximately 98% vote in favor, per the company's SEC filing posted on the SEC website. The transaction remains on track to close in the first half of 2026, subject to customary closing conditions, as reported in the filings and press materials.

Per the Feb. 2, 2026 Nasdaq-distributed filing, Check-Cap filed a Form F-1 registering shares in connection with an equity line of credit with ARC Group International Inc., which could provide access to up to $30 million in discretionary growth capital once the registration becomes effective. The company also furnished MBody AI's audited financial statements for the year ended December 31, 2024 and the six months ended June 30, 2025, as reported in the Feb. 24 and Feb. 2 filings. The April 30 press release additionally notes Check-Cap filed its 2025 Annual Report on Form 20-F on April 27, 2026 and stated it believes it will be shelf-eligible as of May 1, 2026.

Editorial analysis: Companies that combine a public shell with a private AI operator via a reverse merger and seek a Nasdaq listing commonly progress through a sequence of filings and supplemental information exchanges; filings such as Form F-1, audited financials for the private target, and a Form 20-F for the public issuer are standard prerequisites for enabling public trading and capital raises. For practitioners, the presence of an equity registration and an available $30 million facility is a common mechanism to secure near-term growth capital while the combined company prepares commercial scaling.

What the company reported: the press materials describe MBody AI's expansion of deployments with a Fortune 500 operator, where pilots converted into multi-location deployments and follow-on orders, which the filings characterize as emerging commercial traction in the second half of 2025. Direct quotes in the filings include John Fowler, CEO of MBody AI, saying the Nasdaq application submission is "a major step forward in bringing MBody AI to the public markets," and David Lontini, Chairman and Interim CEO of Check-Cap, commenting on advancing the merger and available capital, per the Feb. 24 and Feb. 2 filings.

Editorial analysis: Observers should monitor:

• •Nasdaq's subsequent communications and whether the registration becomes effective
• •any additional supplemental requests or review cycles that could affect timing
• •the activation and usage of the Form F-1 equity facility tied to ARC Group International Inc. Industry watchers will also watch reported customer deployment metrics and revenue recognition in upcoming SEC filings to assess whether the commercial traction described in press materials translates into sustained growth. Market participants may track the combined company's shelf eligibility and any filings that disclose pro forma capitalization and dilution effects

Editorial analysis: The updates reported in the company's filings and press releases document procedural regulatory progress toward a Nasdaq listing and disclose financing and audited financials typical of SPAC-like or reverse-merger pathways for AI companies. These are important operational milestones for investors and practitioners tracking public-market access and near-term capital availability, but they do not by themselves verify sustained commercial or technological leadership absent future operating metrics and independent verification.