SHINECO, INC.: Nasdaq/NYSE listing notice — Shineco receives Nasdaq deficiency notice for bid price below $1.00 per share over 30 days

SHINECO, INC.

Notice received March 20, 2023; stock SISI has 180 days (until Sept 18, 2023) to regain compliance.
Must have closing bid price ≥ $1.00 for at least 10 consecutive business days within the period.
If not cured, may qualify for additional 180-day period if meeting other listing standards.
Failure could lead to delisting; company evaluating options including reverse stock split.
Company intends to monitor bid price but cannot assure compliance.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

SHINECO, INC. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2)

Exact text from the filing

March 20, 2023, Shineco, Inc. (the “Company”) received a deficiency letter (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, based upon the closing bid price of the Company’s common stock (“Common Stock”) for the last 30 consecutive business days, the Company is not currently in compliance with the requirement to maintain a minimum bid price of $1.00 per share for continued listing on The Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Requirement”). The Notice has no immediate

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Source: SEC EDGAR

accession 0001493152-23-008699

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