SOCIETY PASS INCORPORATED. (SOPA): Nasdaq/NYSE listing notice — Society Pass receives Nasdaq deficiency notice for minimum bid price non-compliance

SOCIETY PASS INCORPORATED.

Nasdaq letter dated May 25, 2023 flags bid price below $1.00 for 30 consecutive business days.
Company has 180 days, until November 21, 2023, to regain compliance by closing at $1.00+ for 10 consecutive days.
If not compliant by Nov 21, may qualify for extra 180-day period if other listing standards are met.
Company considering options including a reverse stock split to cure the deficiency.
No immediate impact on listing or trading of SOPA common stock.

Key facts

Extracted from this filing and checked against the source text.

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

SOCIETY PASS INCORPORATED. received a nasdaq noncompliance notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).

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

Exact text from the filing

May 25, 2023, Society Pass Incorporated (the “Company”) received a letter (the “Nasdaq Staff Letter”) from The Nasdaq Stock Market LLC (“Nasdaq”) indicating that, for the last thirty (30) consecutive business days, the bid price for the Company’s common stock had closed below the minimum $1.00 per share requirement for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial period of 180 calendar days, or until November 21, 2023, to regain compliance. The letter states th

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Source: SEC EDGAR

accession 0001607062-23-000297

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