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Lobo Technologies Ltd. (NASDAQ:LOBO) announced Friday that it has regained compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market.
According to a statement based on a recent SEC filing, the company received confirmation from Nasdaq on Thursday that the closing bid price of its Class A ordinary shares had met or exceeded $1.00 per share for 10 consecutive business days, from October 16 through October 29. As a result, the company has satisfied the requirements of Nasdaq Listing Rule 5550(a)(2), and the matter is now closed.
Lobo Technologies had previously disclosed receiving a notification letter from Nasdaq on May 13, indicating it was not in compliance with the minimum bid price rule. The company was given until November 9 to regain compliance.
Lobo Technologies Ltd. is based in Wuxi, Jiangsu, China, and is listed under the industrial classification of motorcycles, bicycles, and parts. This information is based on a press release statement contained in the company’s recent SEC filing.
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