Business
GIBO Holdings Limited Announces Receipt of Nasdaq Delisting Notice Subject to Hearing Request
HONG KONG, Aug. 6, 2025 /PRNewswire/ -- GIBO Holdings Limited ("GIBO" or the "Company"), a unique and integrated AIGC animation streaming platform, today
About this update from Gibo Holdings Limited
[{"type":"text","content":"HONG KONG, Aug. 6, 2025 /PRNewswire/ -- GIBO Holdings Limited (\"GIBO\" or the \"Company\"), a unique and integrated AIGC animation streaming platform, today announced it received a letter from The Nasdaq Stock Market LLC (\"Nasdaq\") on August 4, 2025, notifying that the Company is not in compliance with Nasdaq Listing Rule 5810(c)(3)(A)(iii) (the \"Low Priced Stocks Rule\"), as the Company's securities had a closing bid price of $0.10 or less for the last ten consecutive trading days. The letter indicated that, as a result, the Nasdaq staff determined to delist the Company's securities from The Nasdaq Global Market (the \"Delisting Determination\").\n\n \n \n \n \n \n \n\n \nThe letter also indicated that the bid price of the Company's Class A ordinary shares had closed at less than $1 per share over the previous 30 consecutive business days, and as a result, the Company is not in compliance with Listing Rule 5450(a)(1) (the \"Rule\"). Normally, a company is provided 180 calendar days to regain compliance with the Rule in accordance with Listing Rule 5810(c)(3)(A). However, the Nasdaq determined that the Company's securities also had a closing bid price of $0.10 or less for the last ten consecutive trading days. Accordingly, the Company became subject to the provisions contemplated under the Low Priced Stocks Rule. As a result, the Nasdaq determined to delist the Company's securities from The Nasdaq Global Market. The Company was provided until August 11, 2025 to request an appeal of the Delisting Determination to the Hearings Panel (the \"Panel\"). If the Company fails to request an appeal by August 11, 2025, trading of the Company's securities will be suspended at the opening of business on August 13, 2025, and a Form 25-NSE will be filed with the SEC, which will remove the Company's securities from listing and registration on The Nasdaq Stock Market.\nThe Company intends to request such hearing to appeal the Delisting Determination before August 11, 2025, which will stay the suspension of the Company's securities and the filing of the Form 25-NSE pending the Panel's decision. \nThe Company is considering all potential options available to it to regain compliance with the aforementioned rules, including seeking shareholders' approval for a reverse stock split.\nAbout GIBO Holdings Limited \nGIBO Holdings Limited is a unique ...