Glonghui April 24 丨 36krypton (KRKR.US) announced today that the NASDAQ listing qualification department approved the company's request to transfer its ADS from the NASDAQ global market to the NASDAQ capital market on April 23, 2024. The transfer is expected to take effect when opening on April 29, 2024. The company's ADS will continue to trade uninterrupted under the code “KRKR”.
On November 3, 2023, the company received a letter from NASDAQ stating that the company did not comply with section 5450 (a) (1) of the NASDAQ listing rules because the closing price of ADS was lower than $1.00 per American Depositary Share for the past 30 consecutive business days. The company was given a compliance period of 180 calendar days, or until May 1, 2024 to re-comply with the minimum bid price requirement. In response, the company submitted an application to transfer its ADS from the NASDAQ Global Market to the NASDAQ Capital Market. After the transfer, the company will receive the remaining compliance period.