SINGAPORE, July 15, 2026 (GLOBE NEWSWIRE) -- JBDI Holdings Limited (Nasdaq: JBDI) today announced that it received a letter dated July 9, 2026 (the "Determination Letter") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company had not regained compliance with Listing Rule 5550(a)(2) within the 180 calendar days previously provided by Nasdaq's letter to the Company of January 7, 2026 (the "January 7 Letter"). The January 7 Letter had indicated that the bid price of the Company's listed security had closed at less than $1 per share over the previous 30 consecutive business days and, as a result, did not comply with Listing Rule 5550(a)(2) (the "Rule"). In accordance with the Rule, the Company was provided 180 calendar days, or until July 6, 2026, to regain compliance with the Rule.
The Determination Letter stated that the Company had not regained compliance with Listing Rule 5550(a)(2) and is not eligible for a second 180-day period within which to regain compliance because it does not meet with the minimum stockholders' equity initial listing requirement for The Nasdaq Capital Market.
The Determination Letter further stated:
"Accordingly, unless the Company requests an appeal of this determination by July 16, 2026 … the Company's ordinary shares will be scheduled for delisting from The Nasdaq Capital Market and will be suspended at the opening of business on July 20, 2026 and a Form 25-NSE will be filed with the Securities and Exchange Commission (the "SEC"), which will remove the Company's securities from listing and registration on The Nasdaq Stock Market."
The Determination Letter further informed the Company that it has until 4:00 p.m. Eastern Time on July 16, 2026, to appeal the Staff's Delisting Determination to a Hearings Panel and that a request for a hearing would stay the suspension of the Company's ordinary shares from trading and the filing of the Form 25-NSE with the SEC.
The Company will not submit a request for a hearing due to its receipt on July 15, 2026 of the Notice of Compliance described below.
JBDI HOLDINGS ANNOUNCES COMPLIANCE WITH NASDAQ LISTING RULE
JBDI Holdings announced that it received notice (the "Notice of Compliance") from Nasdaq on July 15, 2026 informing the Company that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2), and that the Company was therefore in compliance with the Nasdaq Capital Market's listing requirements. Accordingly, the Company's Ordinary Shares will continue to be listed on The Nasdaq Capital Market under the symbol "JBDI" and Nasdaq considers the matter closed.