Business
Metalpha Has Regained Compliance with Nasdaq's Minimum Bid Price Requirement
HONG KONG, April 3, 2023 /PRNewswire/ -- Metalpha Technology Holding Limited (Nasdaq: MATH) (the "Company" or "Metalpha"), a global crypto-based wealth
About this update from Metalpha Technology Holding Limited
[{"type":"text","content":"HONG KONG, April 3, 2023 /PRNewswire/ -- Metalpha Technology Holding Limited (Nasdaq: MATH) (the \"Company\" or \"Metalpha\"), a global crypto-based wealth management company, announced that on March 31, 2023 it received a written notice from The Nasdaq Stock Market LLC (the \"Nasdaq\") which states the Company has regained compliance with the minimum bid price requirement set forth under the Nasdaq Listing Rule 5550(a)(2) (the \"Minimum Bid Price Requirement\") and currently meets all other applicable criteria for continued listing.\nAs previously announced, the Company received a written notification on September 21, 2022 from the Nasdaq Listing Qualifications Department that the Company was not in compliance with the Minimum Bid Price Requirement as the closing bid price of the Company's ordinary shares, par value US$0.0001 per share (the \"Ordinary Shares\"), was below $1.00 per share for a period of 30 consecutive business days.\nIn accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company was provided 180 calendar days, or until March 20, 2023, to regain compliance with the Minimum Bid Price Requirement. To regain compliance, the Company's Ordinary Shares must have a closing bid price of at least $1.00 per share for a minimum of 10 consecutive business days.\nPer the notice the Company received from Nasdaq on March 31, 2023, the Company regained compliance with the Minimum Bid Price Requirement when the closing bid price of the Company's Ordinary Shares maintained $1.00 per share or greater for 19 consecutive business days and the matter is now closed.\nAbout Metalpha Technology Holding Limited\nFounded in 2015, Metalpha Technology Holding Limited (NASDAQ: MATH) went public on October 20, 2017. The listed Company, through its subsidiaries, is dedicated to providing investing and wealth management services with a full-service, institutional-grade platform. With dedicated blockchain expertise, the Company aims to become a leader in the field of crypto wealth management services, bringing robust innovation and transparency to the customers and businesses it serves.\nForward-Looking Statements\nCertain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties, including the further spread of the COVID-19 virus or new variants thereof,...