Canaan Inc. receives Nasdaq compliance notice

Canaan Inc (NASDAQ:CAN)., a finance services company known for its involvement in the cryptocurrency sector, has disclosed in its latest SEC filing that it received a notification from Nasdaq regarding non-compliance with minimum bid price requirements. The notice, as reported in the company’s Form 6-K, was filed on May 16, 2025.

The document indicates that Canaan Inc., which operates under the organization name 09 Crypto Assets and is incorporated in Singapore, is currently not meeting the Nasdaq Listing Rule that requires a minimum bid price of $1.00 per share. The SEC filing did not provide specific details regarding the bid price of Canaan’s shares or the period during which the company has been out of compliance.

According to the filing, Canaan Inc. is required to respond to Nasdaq with a plan to regain compliance. The company has a grace period to meet the minimum bid price requirement; however, the duration of this period was not specified in the SEC filing.

The Form 6-K states that Canaan Inc. will continue to file annual reports under Form 20-F, which is used by foreign private issuers to provide the U.S. Securities and Exchange Commission with an overview of the company’s financial performance and practices.

The filing was signed by Nangeng Zhang, the Chairman and Chief Executive Officer of Canaan Inc. The company’s business address is listed as 28 Ayer Rajah Crescent, #06-08, Singapore 139959, which is also the address of its principal executive offices.

This news comes as a critical update for shareholders and potential investors, indicating that Canaan Inc. must address the issue to maintain its listing on the Nasdaq stock exchange. The company has not provided any immediate action plan or timeline for addressing the compliance issue in the public document.

This information is based on the press release statement filed with the SEC.

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