Business
E-Home Household Services Holdings Limited Receives Nasdaq Notification Regarding Minimum Bid Price Deficiency
FUZHOU, China, Dec. 26, 2022 /PRNewswire/ -- E-Home Household Service Holdings Limited (Nasdaq: EJH) (the "Company" or "E-Home"), a provider of integrated
About this update from E-home Household Service Holdings Limited
[{"type":"text","content":"FUZHOU, China, Dec. 26, 2022 /PRNewswire/ -- E-Home Household Service Holdings Limited (Nasdaq: EJH) (the \"Company\" or \"E-Home\"), a provider of integrated household services in China, today announced that the Company has received a written notification (the \"Notification Letter\") from the Nasdaq Stock Market LLC (\"Nasdaq\") on December 20, 2022, notifying the Company that it is not in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on the Nasdaq.\nNasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of US$1.00 per share, and Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. Based on the closing bid price of the Company's ordinary shares for the 30 consecutive business days from November 7, 2022 to December 19, 2022, the Company no longer meets the minimum bid price requirement.\nThe Notification Letter does not impact the Company's listing of its ordinary shares on the Nasdaq Capital Market at this time. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided 180 calendar days, or until June 19, 2023, to regain compliance with Nasdaq Listing Rule 5550(a)(2). To regain compliance, the Company's ordinary shares must have a closing bid price of at least US$1.00 for a minimum of 10 consecutive business days. If the Company does not regain compliance during such 180-day period, the Company may be eligible for an additional 180 calendar days, provided that the Company meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for Nasdaq except for Nasdaq Listing Rule 5550(a)(2), and provide a written notice of its intention to cure this deficiency during the second compliance period, by effecting a reverse stock split, if necessary. If the Company does not qualify for the second compliance period or fails to regain compliance during the second 180-day period, then Nasdaq will notify the Company of its determination to delist the Company's ordinary shares, at which point the Company will have an opportunity to appeal the delisting determination to a Hearings Panel.\nThe Company intends to monitor the closing bid pri...