[ad_1]
Zhuhai, China, January 16, 2022 /PRNewswire/ — Powerbridge Technologies Co., Ltd. (NASDAQ: PBTS) (“Powerbridge” or the “Company”), a provider of SaaS solutions and blockchain applications, announced today that it has received Notification Letter (“Notification letter”) from Nasdaq Stock Market LLC (“Nasdaq“) date January 12, 2022, notifying the company that it did not meet the minimum bid price requirements for continued listing on the Nasdaq under Nasdaq Listing Rule 5550(a)(2). This press release is issued pursuant to Nasdaq Listing Rule 5810(b), which requires disclosure immediately upon notification of a defect.
Nasdaq Listing Rule 5550(a)(2) Requires Listed Securities to Maintain Minimum Bid Prices $1.00 per share, while Listing Rule 5810(c)(3)(A) provides that if the shortage persists for 30 consecutive business days, there is a failure to meet the minimum bid price requirement.Based on the closing price of the company’s common stock since 30 consecutive business days November 29, 2021 arrive January 11, 2022, the company no longer meets the minimum bid price requirement.
Under Nasdaq Listing Rule 5810(c)(3)(A), the company has been given 180 calendar days, or until July 11, 2022, to regain compliance with Nasdaq Listing Rule 5550(a)(2 ). To regain compliance, the closing price of the company’s common stock must be at least $1.00 for at least 10 consecutive trading days. exist…
The full story is available on Benzinga.com
[ad_2]
Source link
