CHANGZHOU, China, March 29, 2024 /PRNewswire/ -- EZGO Technologies Ltd. (Nasdaq: EZGO) ('EZGO' or 'we,' 'our,' or the 'Company'), a leading short-distance transportation solutions provider in China
CHANGZHOU, China, March 29, 2024 /PRNewswire/ -- EZGO Technologies Ltd. , a leading short-distance transportation solutions provider in China, today announced it received a delisting determination notice from the Nasdaq Stock Market LLC on March 26, 2024.
As previously reported, on October 18, 2023, the Company received a letter from the Listings Qualifications Department of Nasdaq notifying the Company that the minimum closing bid price per share for its ordinary shares, par value US$0.001 per share , was below $1.00 for a period of 30 consecutive business days and that the Company did not meet the minimum bid price requirement set forth in Nasdaq Listing Rule 5550 .
The Company received the Delisting Notice from Nasdaq notifying the Company that, as of March 26, 2024, the Ordinary Shares had a closing bid price of $0.10 or less for ten consecutive trading days and that, pursuant to Nasdaq Listing Rule 5810, Nasdaq had determined to begin the process to delist the Ordinary Shares from the Nasdaq Stock Market. The Delisting Notice provides the Company with an opportunity to appeal Nasdaq's decision.
The Company intends to submit, on or before April 2, 2024, the latest date permitted in the Delisting Notice, a request for a hearing before the Nasdaq Hearings Panel to appeal the Delisting Notice.The Company is considering all options available to it, including a reverse stock split, to regain compliance and will provide its shareholders with material updates when they are available.
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