HONG
KONG, Aug. 21, 2023 /PRNewswire/ -- Metalpha
Technology Holding Limited (Nasdaq: MATH) (the "Company" or
"Metalpha"), a global digital asset-based wealth management
company, today announced that on August 17,
2023 it has received a written notice from The Nasdaq Stock
Market LLC (the "Nasdaq") which states that, as a result of not
having timely filed its annual report on Form 20-F for the fiscal
year ended March 31, 2023 (the "2023
Form 20-F"), Metalpha is not in compliance with Nasdaq Listing Rule
5250(c)(1), which requires timely filing of periodic reports with
the Securities and Exchange Commission (the "SEC"). This notice has
no immediate effect on the listing or trading of Metalpha's
ordinary shares on the Nasdaq Capital Market.
The Company is required by Nasdaq to submit its plan to regain
compliance within 60 calendar days, or no later than October 16, 2023. If the plan is accepted by
Nasdaq, the Company can be granted up to 180 calendar days from the
2023 Form 20-F's due date, or until February
12, 2024, to regain compliance.
The Company was not able to file the 2023 Form 20-F by its due
date primarily due to the additional time needed to prepare the
2023 Form 20-F, as set forth in the Form 12b-25 submitted to the
SEC on July 31, 2023. Metalpha
continues to work diligently to complete the 2023 Form 20-F and
strives to file it with the SEC as soon as reasonably
practicable.
About Metalpha Technology Holding Limited
Founded in 2015, Metalpha Technology Holding Limited (NASDAQ:
MATH) went public on October 20,
2017. The Company, through its subsidiaries, is dedicated to
providing digital asset-based 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 digital asset-based wealth management services, bringing
robust innovation and transparency to the customers and businesses
it serves.
Safe Harbor Statement
This press release contains statements that may constitute
"forward-looking" statements pursuant to the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "aims,"
"future," "intends," "plans," "believes," "estimates," "likely to"
and similar statements. Management has based these forward-looking
statements on its current expectations, assumptions, estimates and
projections. While they believe these expectations, assumptions,
estimates and projections are reasonable, such forward-looking
statements are only predictions and involve known and unknown risks
and uncertainties, many of which are beyond management's control.
These statements involve risks and uncertainties that may cause
Metalpha's actual results, performance or achievements to differ
materially from any future results, performance or achievements
expressed or implied by these forward-looking statements.
Contact
Yiwei Wang
info@metalpha.finance
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SOURCE Metalpha Technology Holding Limited