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Treasure Global Inc. (NASDAQ:TGL) announced Tuesday that it received a determination letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC stating that the company’s securities are subject to delisting from the Nasdaq Capital Market.
According to a press release statement and the company’s filing with the Securities and Exchange Commission, Nasdaq staff issued the determination due to Treasure Global’s failure to comply with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2). The staff also cited that the company is ineligible for an additional compliance period because it has effected multiple reverse stock splits in the past two years, with a cumulative split ratio exceeding 250-for-1.
The filing states that Treasure Global implemented a 1-for-70 reverse stock split on February 27, 2024, followed by a 1-for-50 reverse stock split on April 7, 2025. This resulted in a cumulative 1-for-3,500 reverse split ratio. The company’s common stock closing bid price remained below $1.00 per share for 30 consecutive business days from October 15 through November 28, 2025.
Treasure Global has elected to request a hearing before a Nasdaq Hearings Panel to appeal the staff determination. This request automatically stays the suspension of trading in the company’s securities and the filing of the Form 25-NSE with the SEC pending the panel’s decision. The company intends to present a plan to regain compliance with applicable listing standards during the hearing. While the appeal process is ongoing, Treasure Global’s common stock will continue to be listed and traded on Nasdaq.
The company stated that the staff determination does not impact its business operations or its reporting obligations under the Securities Exchange Act of 1934.
This information is based on a press release statement and the company’s SEC filing.
In other recent news, Treasure Global Inc. announced a letter of intent to acquire a 51% stake in Quarters Elite Advisory for approximately $1.2 million, pending an independent valuation and several conditions. The company has also entered into a lock-up agreement with key shareholders, restricting the sale or transfer of shares for one year, effective November 14, 2025. Additionally, Treasure Global’s subsidiary, Tadaa Technologies, has been appointed as the exclusive partner to manage 200 million UNIRWA tokens, valued at $100 million, focusing on real estate and hospitality assets in Southeast Asia.
Treasure Global further disclosed the appointment of Chong Chan “Sam” Teo as an executive director, who will guide the company’s growth and profitability strategies. Teo will receive $120,000 worth of common stock annually, distributed monthly based on the volume weighted average price. Furthermore, the company secured a $400,000 strategic equity investment from two Malaysian investors, including Executive Director Chan Meng Chun, with a total of 344,828 new shares issued at $1.16 each. These developments reflect Treasure Global’s ongoing efforts to expand its operations and strengthen its financial position.
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