Business
Origin Agritech Regains NASDAQ Listing Compliance
BEIJING, Aug. 5, 2020 /PRNewswire/ -- Origin Agritech Ltd. (NASDAQ: SEED) (the "Company" or "Origin"), an agriculture technology company, today announced that
About this update from Origin Agritech Limited
[{"type":"text","content":"BEIJING, Aug. 5, 2020 /PRNewswire/ -- Origin Agritech Ltd. (NASDAQ: SEED) (the \"Company\" or \"Origin\"), an agriculture technology company, today announced that it has received notice from Nasdaq stating that the Company has regained compliance with NASDAQ listing requirements.\nOn March 6, 2020, the Company was notified by NASDAQ that it did not comply with the minimum $2.5 million stockholders' equity, $35 million market value of listed securities, or $500,000 of net income from continuing operations requirements for The Nasdaq Capital Market. Since then, NASDAQ officials determined that for the 20 consecutive business days, from July 2 through July 30, 2020, the Company's market value of listed securities has been $35,000,000 or greater and accordingly, the Company has regained compliance with NASDAQ listing requirements. \nAbout Origin Agritech Limited\nOrigin Agritech Limited, founded in 1997 and headquartered in Zhong-Guan-Cun (ZGC) Life Science Park in Beijing, is China's leading agricultural technology. In crop seed biotechnologies, Origin Agritech's phytase corn was the first transgenic corn to receive the Bio-Safety Certificate from China's Ministry of Agriculture. Over the years, Origin has established a robust biotechnology seed pipeline including products with glyphosate tolerance and pest resistance (Bt) traits. For further information, please visit the Company's website at: http://www.originseed.com.cn or http://www.originseed.com.cn/en/. \nForward-Looking Statements\nThis communication contains \"forward-looking statements\" as defined in the federal securities laws, including Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements address expected future business and financial performance and financial condition, and contain words like \"expect,\" \"anticipate,\" \"intend,\" \"plan,\" \"believe,\" \"seek,\" \"will,\" \"would,\" \"target,\" and similar expressions and variations. Forward-looking statements address matters that are uncertain. Forward-looking statements are not guarantees of future performance and are based on assumptions and expectations which may not be realized. They are based on management's current expectations, assumptions, estimates a...