Reported Earlier, Ohmyhome Faces Nasdaq Deficiency Notice Over Share Price Drop, Granted 180 Days to Regain Compliance
Reported Earlier, Ohmyhome Faces Nasdaq Deficiency Notice Over Share Price Drop, Granted 180 Days to Regain Compliance
On April 30, 2024, Ohmyhome Limited (the "Company") received a deficiency letter from the Listing Qualifications Department (the "Staff") of The Nasdaq Capital Market ("Nasdaq") notifying the Company that, for the preceding 30 consecutive business days, the closing bid price for the Company's ordinary shares, (the "Ordinary Shares"), was below the minimum $1.00 per share requirement for continued listing on Nasdaq pursuant to Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Requirement").
2024年4月30日，Ohmyhome Limited（“公司”）收到了纳斯达克资本市场（“纳斯达克”）上市资格部门（“员工”）的缺陷信，通知公司，在过去的连续30个工作日中，公司普通股（“普通股”）的收盘价低于纳斯达克上市规则5550规定的继续在纳斯达克上市的最低每股1.00美元的要求 (a) (2)（“投标价格要求”）。
The receipt of the deficiency letter has no immediate effect on the Company's Nasdaq listing. In accordance with Nasdaq rules, the Company has been provided an initial period of 180 calendar days, or until October 28, 2024 (the "Compliance Date"), to regain compliance with the Bid Price Requirement. If the Company does not regain compliance during such 180-day period, the Company may be eligible for an extension of 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 the Bid Price Requirement, and provide a written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. If the Company does not qualify for the second compliance period or fails to regain compliance during the second 180-day period, then Nasdaq will notify the Company of its determination to delist the Company's Ordinary Shares, at which point the Company will have an opportunity to appeal the delisting determination to a Hearings Panel. If, at any time before the Compliance Date, the closing bid price for the Ordinary Shares is at least $1.00 for a minimum of ten consecutive business days, the Staff will provide the Company written confirmation of compliance with the Bid Price Requirement.
收到缺陷信对公司在纳斯达克的上市没有立即影响。根据纳斯达克的规定，已为公司提供了180个日历日的初始期限，或直到2024年10月28日（“合规日期”），以恢复对投标价格要求的遵守。如果公司在这180天内没有恢复合规，则公司可能有资格再延长180个日历日，前提是公司符合公开持股市值的持续上市要求和纳斯达克除投标价要求以外的所有其他初始上市标准，并提供书面通知，表示打算在第二个合规期内通过在必要时进行反向股票分割来弥补缺陷。如果公司没有资格进入第二个合规期或未能在第二个180天内恢复合规，那么纳斯达克将通知公司其将公司普通股退市的决定，届时公司将有机会就除名决定向听证小组提出上诉。如果在合规日之前的任何时候，普通股的收盘价在至少连续十个工作日内至少为1.00美元，则工作人员将向公司提供遵守投标价格要求的书面确认。
The Company intends to monitor the closing bid price of the Ordinary Shares and may, if appropriate, consider available options to regain compliance with the Bid Price Requirement.
公司打算监控普通股的收盘出价，并可酌情考虑可用的选择以恢复对出价要求的遵守。