HONG
KONG, April 3, 2023 /PRNewswire/ -- Metalpha
Technology Holding Limited (Nasdaq: MATH) (the "Company" or
"Metalpha"), a global crypto-based wealth management
company, announced that on March 31,
2023 it received a written notice from The Nasdaq Stock
Market LLC (the "Nasdaq") which states the Company has regained
compliance with the minimum bid price requirement set forth under
the Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price
Requirement") and currently meets all other applicable criteria for
continued listing.
As previously announced, the Company received a written
notification on September 21, 2022
from the Nasdaq Listing Qualifications Department that the Company
was not in compliance with the Minimum Bid Price Requirement as the
closing bid price of the Company's ordinary shares, par value
US$0.0001 per share (the "Ordinary
Shares"), was below $1.00 per share
for a period of 30 consecutive business days.
In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the
Company was provided 180 calendar days, or until March 20, 2023, to
regain compliance with the Minimum Bid Price Requirement. To regain
compliance, the Company's Ordinary Shares must have a closing bid
price of at least $1.00 per share for a minimum of 10 consecutive
business days.
Per the notice the Company received from Nasdaq on March 31, 2023, the Company regained compliance
with the Minimum Bid Price Requirement when the closing bid price
of the Company's Ordinary Shares maintained $1.00 per share or greater for 19 consecutive
business days and the matter is now closed.
About Metalpha Technology Holding Limited
Founded in 2015, Metalpha Technology Holding Limited (NASDAQ:
MATH) went public on October 20,
2017. The listed Company, through its subsidiaries, is
dedicated to providing investing and wealth management services
with a full-service, institutional-grade platform. With dedicated
blockchain expertise, the Company aims to become a leader in the
field of crypto wealth management services, bringing
robust innovation and transparency to the customers and businesses
it serves.
Forward-Looking Statements
Certain statements in this announcement are forward-looking
statements. These forward-looking statements involve known and
unknown risks and uncertainties, including the further spread of
the COVID-19 virus or new variants thereof, or the occurrence of
another wave of cases and the impact it may have on the Company's
operations and the demand for the Company's services, and are based
on current expectations and projections about future events and
financial trends that the Company believes may affect its financial
condition, results of operations, business strategy, and financial
needs. Investors can identify these forward-looking statements by
words or phrases such as "may," "will," "expect," "anticipate,"
"aim," "estimate," "intend," "plan," "believe," "potential,"
"continue," "is/are likely to," or other similar expressions. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and the
Company cautions investors that actual results may differ
materially from the anticipated results and encourages investors to
review other factors that may affect its future results in the
Company's registration statement and its other filings with the
U.S. Securities and Exchange Commission.
Contact
Yiwei Wang
info@metalpha.finance
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SOURCE Metalpha Technology Holding Limited