Singularity Future Technology Ltd. (SGLY): Nasdaq/NYSE listing notice — Singularity Future Technology receives Nasdaq bid price deficiency notice

Singularity Future Technology Ltd.

Received Nasdaq notice on Jan 5, 2023 for failure to maintain minimum $1 bid price for 30 consecutive business days.
Has 180 days, until July 5, 2023, to regain compliance by closing at or above $1 for ten consecutive days.
If not cured by July 5, may be eligible for additional 180-day period if other listing standards are met.
Company may consider a reverse stock split to cure deficiency.
No immediate effect on listing; shares continue trading on Nasdaq Capital Market.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

Singularity Future Technology Ltd. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2), 5810(c)(3)(A)

Exact text from the filing

January 5, 2023, Singularity Future Technology Ltd. (the “Company”) received a deficiency notice from The Nasdaq Stock Market (“Nasdaq”) informing the Company that its common stock, no par value (the “Common Stock”), fails to comply with the $1 minimum bid price required for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) based upon the closing bid price of the Common Stock for the 30 consecutive business days prior to the date of the notice from Nasdaq. Nasdaq’s notice has no immediate effect on the listing of the Common Stock on The Nasdaq Capital Market.

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Singularity Future Technology Ltd. filing history →

Source: SEC EDGAR

accession 0001213900-23-002046

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