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ATIF Holdings Ltd (NASDAQ:ATIF) announced Thursday it received a notification from the Nasdaq Stock Market regarding non-compliance with the minimum bid price requirement. According to a press release statement based on a recent SEC filing, the company’s ordinary shares failed to maintain a minimum closing bid price of $1.00 per share for 30 consecutive business days, as required under Nasdaq Listing Rule 5550(a)(2).
The notice, dated Monday, provides ATIF Holdings with 180 calendar days, until December 29, 2025, to regain compliance. To meet the requirement, the company’s ordinary shares must have a closing bid price of at least $1.00 per share for a minimum of ten consecutive business days before the compliance deadline.
If ATIF Holdings does not regain compliance within the initial 180-day period, it may be eligible for an additional 180-day extension, provided it meets the continued listing requirements for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, except for the minimum bid price requirement. The company would also need to notify Nasdaq in writing of its intention to resolve the deficiency, which may include implementing a reverse stock split.
Failure to regain compliance with the minimum bid price requirement could result in the company’s ordinary shares being delisted from the Nasdaq Capital Market.
ATIF Holdings stated it intends to monitor the closing bid price of its shares and consider available options to regain compliance. There is no assurance that the company will be able to meet the minimum bid price requirement or otherwise satisfy Nasdaq listing standards.
This information is based on a press release statement and details disclosed in the company’s SEC filing.
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