SoFi CEO enters prepaid forward contract on 1.5 million shares
HONG KONG - SU Group Holdings Limited (NASDAQ:SUGP), a Hong Kong-based security services provider with a market capitalization of $12.57 million, has been notified by the Nasdaq Stock Market LLC of non-compliance with the exchange’s minimum bid price rule. Currently trading at $0.94, the company’s ordinary shares closed below the required $1.00 threshold for 30 consecutive business days, triggering the notice under Nasdaq Listing Rule 5550(a)(2). Despite this, trading of SU Group’s shares on Nasdaq will continue under the ticker "SUGP" without interruption. According to InvestingPro analysis, the stock is currently trading below its Fair Value.
The company has until September 16, 2025, to meet the minimum bid price requirement, according to Nasdaq Listing Rule 5810(c)(3)(A). Compliance can be achieved if the company’s shares maintain a closing bid price of at least $1.00 for a minimum of 10 consecutive business days within this 180-day period. If SU Group fails to regain compliance within the allotted timeframe, it may be granted additional time, assuming no other listing criteria are violated.
SU Group is considering various strategies to address the issue, including a potential reverse stock split of its ordinary shares, to satisfy Nasdaq’s requirements.
About SU Group Holdings Limited:
SU Group is an integrated provider of security-related engineering services, security guarding, screening services, and related vocational training. The company, through its subsidiaries, has been delivering turnkey solutions for over two decades, including the design, supply, installation, and maintenance of security systems for commercial, public, and residential sectors in Hong Kong.
The company’s forward-looking statements in the press release indicate its intentions to continue business operations and growth strategies, despite current challenges. These statements involve risks and uncertainties that could affect the company’s financial condition and operations. SU Group has emphasized that it does not plan to update these forward-looking statements except as legally required.
The information reported here is based on a press release statement from SU Group Holdings Limited.
In other recent news, SU Group Holdings Limited has received a notification from The Nasdaq Stock Market regarding non-compliance with the minimum bid price requirement. The company’s shares have closed below the $1.00 threshold for 30 consecutive business days, prompting a 180-day period to regain compliance. During this time, if the stock closes at $1.00 or higher for at least 10 consecutive business days, Nasdaq will confirm compliance. SU Group Holdings is considering measures, including a potential reverse stock split, to address this issue. Meanwhile, the company announced its involvement in supplying access control gates for one of Asia’s largest multi-purpose sports and entertainment parks. This project aligns with SU Group’s growth strategy and could generate significant revenue in 2025, according to Chairman and CEO Dave Chan. The gates are designed to enhance security and operational efficiency, featuring automated ticket verification and data analytics capabilities. These developments highlight SU Group’s efforts to maintain its Nasdaq listing and expand its business operations.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.