Golden Bull Limited Received Nasdaq Notification Letter Regarding Deficiency in Minimum Bid Price
Golden Bull Limited Received Nasdaq Notification Letter Regarding Deficiency in Minimum Bid Price |
[28-September-2019] |
SHANGHAI, Sept. 28, 2019 /PRNewswire/ -- Golden Bull Limited (NASDAQ: DNJR) ("Golden Bull" or the "Company", an online finance marketplace, or "peer-to-peer" lending company in China that provides borrowers access to short-term loans announced today that the Company has received a notification letter from The NASDAQ Stock Market LLC ("Nasdaq") on September 26, 2019, notifying the Company that it is not in compliance with the Minimum Bid Price ("Bid Price") requirement. On September 26, 2019, Nasdaq sent the Company a notification letter stating that the minimum bid price per share for the Company's ordinary shares has been below $1.00 for a period of 30 consecutive business days and the Company therefore no longer meets the Bid Price requirements set forth in Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Deficiency"). The Bid Price Deficiency letter received has no immediate effect on the listing of the Company's ordinary shares on Nasdaq. Under the Nasdaq Listing Rules, the Company has until March 24, 2020 to regain compliance. If at any time during such 180-day period the closing bid price of the Company's ordinary shares is at least $1 for a minimum of 10 consecutive business days, Nasdaq will provide the Company written confirmation of compliance. If the Company does not regain compliance by curing the Bid Price Deficiency during such 180-day period, the Company may be eligible for an additional 180 calendar days, provided that the Company meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for Nasdaq except for Nasdaq Listing Rule 5550(a)(2), and provide a written notice of its intention to cure this deficiency during the second compliance period, by effecting a reverse stock split, if necessary. The Company intends to promptly evaluate options available to regain compliance. However, there can be no assurance that Company will be able to regain compliance with the applicable Nasdaq listing requirements. About Golden Bull Limited Safe Harbor Statement View original content:http://www.prnewswire.com/news-releases/golden-bull-limited-received-nasdaq-notification-letter-regarding-deficiency-in-minimum-bid-price-300927279.html SOURCE Golden Bull Limited | ||
Company Codes: NASDAQ-NMS:DNJR |
© 2019 PR Newswire. All Rights Reserved.