EUDA Health Holdings Limited Has Received Nasdaq Notification Regarding Minimum Market Value Deficiency
January 16 2024 - 5:29PM
EUDA Health Holdings Limited (“EUDA” and the “Company”) received a
written notice (the “MVLS Notice”) from Listing Qualifications
Department of The Nasdaq Stock Market (“Nasdaq”) on January 9, 2024
indicating that the Company had failed to maintain a Minimum Market
Value of Listed Securities (“MVLS”) of $35 million over the
previous 30 consecutive business days as required by the Nasdaq
Listing Rule 5550(b)(2).
The MVLS Notice has no immediate effect on the
listing of the Company’s securities on Nasdaq and the Company has
been provided a period of 180 calendar days from the date of the
MVLS Notice, or until July 8, 2024, in which to regain compliance
(the “MVLS Compliance Period”). In order to regain compliance with
Nasdaq Listing Rule 5550(b)(2), the Market Value of Listed
Securities of the Company must close at $35,000,000 or more for a
minimum of ten consecutive business days during the MVLS Compliance
Period.
In the event that the Company does not regain
compliance with Nasdaq Listing Rule 5550(b)(2) within the MVLS
Compliance Period, Nasdaq will provide notice to the Company that
its listed securities will be subject to delisting. In the event of
such notification, the Company may appeal Nasdaq’s determination to
delist its securities, but there can be no assurance that Nasdaq
would grant the Company’s request for continued listing.
For investor and media inquiries, please
contact:Dr. Kelvin ChenChief Executive
OfficerEUDA Health Holdings Limitedkelvin@euda.com
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