SHINECO, INC.: Nasdaq/NYSE listing notice — Shineco receives Nasdaq deficiency notice for bid price below $1.00; 180-day cure period until Oct 23, 2024

SHINECO, INC.

Received Nasdaq deficiency notice on April 26, 2024 for failing to maintain minimum $1.00 bid price over 30 consecutive business days.
Has 180 calendar days (until October 23, 2024) to regain compliance; must close at $1.00+ for 10 consecutive business days.
If initial period not met, may qualify for additional 180-day period if meeting other listing standards and notifying Nasdaq.
Failure to cure could lead to delisting; company intends to monitor bid price and evaluate options including reverse stock split.

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

April 26, 2024, 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 (the “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 immedi

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Source: SEC EDGAR

accession 0001493152-24-017251

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