AGM Group Holdings Inc. Receives Staff Determination Notice from Nasdaq and Plans to Appeal

Rhea-AI Summary

AGM Group Holdings (NASDAQ: AGMH) has received a staff determination notice from Nasdaq on April 1, 2025, indicating potential delisting due to non-compliance with listing requirements. The company's shares have traded below $0.10 for ten consecutive trading days, violating the Low Priced Stocks Rule.

Trading suspension is scheduled for April 10, 2025, unless AGMH appeals to Nasdaq's Hearings Panel by April 8, 2025. This follows a March 13 notification of non-compliance with the minimum bid requirement of $1.00 per share. The company was initially given until September 9, 2025, to regain compliance but triggered the expedited delisting process due to sub-$0.10 trading.

AGMH intends to appeal the determination, which will temporarily stay the suspension. The company emphasizes that its operations remain unaffected by these regulatory challenges.

Positive

• Company operations remain unaffected by listing issues
• Appeal process available to potentially delay delisting

Negative

• Stock price fallen below critical $0.10 threshold for 10 consecutive trading days
• Facing immediate delisting risk from Nasdaq
• Non-compliance with minimum bid requirement of $1.00
• Trading suspension scheduled for April 10, 2025

Beijing, April 07, 2025 (GLOBE NEWSWIRE) -- AGM Group Holdings Inc. (“AGM Holdings” or the “Company”) (NASDAQ: AGMH), an integrated technology company specializing in the assembling and sales of high-performance hardware and computing equipment, today announced that the Company received a staff determination notice (the “Staff Determination Notice”) from the Listings Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) on April 1, 2025, notifying the Company of the Staff’s determination to delist the Company’s securities because as of March 31, 2025, the Company’s Class A ordinary shares have had a closing bid price below $0.10 for ten consecutive trading days, which subject the Company to the provisions contemplated under Listing Rule 5810(c)(3)(A)(iii) (the “Low Priced Stocks Rule”). The Company’s securities will be suspended from trading on The Nasdaq Capital Market at the opening of business on April 10, 2025, and a Form 25-NSE will be filed with the U.S. Securities and Exchange Commission (the “SEC”), which will remove the Company’s securities from listing and registration on The Nasdaq Stock Market (the “Suspension”), unless the Company requests an appeal of such determination to Nasdaq’s Hearings Panel (the “Panel”) by April 8, 2025.

On March 13, 2025, the Company received a letter from the Nasdaq (the “Letter”), notifying the Company that it is not in compliance with the minimum bid price requirement as set forth under Nasdaq Listing Rule 5550(a)(2) for continued listing on Nasdaq (“the Minimum Bid Requirement”) because the closing bid price of the Company’s Class A ordinary shares was below the minimum of $1.00 per share for a period of 30 consecutive business days. In accordance with Listing Rule 5810(c)(3)(A), the Letter provided the Company a period of 180 calendar days from the date of the Letter, or until September 9, 2025, to regain compliance with the Minimum Bid Requirement.

Nasdaq Listing Rule 5810(c)(3)(A)(iii) states that if during any compliance period specified in Rule 5810(c)(3)(A) a Company’s security has a closing bid price of $0.10 or less for ten consecutive trading days, the Listing Qualifications Department shall issue a Staff Delisting Determination under Rule 5810 with respect to that security. Based on the closing bid price of the Company's ordinary shares for the 10 consecutive trading days from March 18, 2025 to March 31, 2025, the Company does not comply with the Low Priced Stocks Rule.

The Company's operations are not affected by the receipt of the Staff Determination Notice. The Company intends to timely appeal Nasdaq’s determination to the Panel, pursuant to the procedures set forth in the Nasdaq Listing Rule 5800 Series. The Company’s hearing request will stay the Suspension and the filing of the Form 25-NSE pending the Panel’s decision.

About AGM Group Holdings Inc.

AGM Group Holdings Inc. (NASDAQ: AGMH) is an integrated technology company specializing in the assembling and sales of high-performance hardware and computing equipment. With a mission to become a key participant and contributor in the global blockchain ecosystem, AGMH focuses on the research and development of blockchain-oriented Application-Specific Integrated Circuit (ASIC) chips, the assembling and sales of high-end crypto miners for Bitcoin and other cryptocurrencies. For more information, please visit www.agmprime.com.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "approximates," "assesses," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the U.S. Securities and Exchange Commission.

For more information, please contact:

AGM Group Holdings Inc.
Email: ir@agmprime.com 
Website: http://www.agmprime.com

Ascent Investor Relations LLC
Tina Xiao
President
Phone: +1-646-932-7242
Email: investors@ascent-ir.com

FAQ

Why is AGM Group Holdings (AGMH) facing delisting from Nasdaq in April 2025?

AGMH is facing delisting because its stock traded below $0.10 for ten consecutive trading days (March 18-31, 2025), violating Nasdaq's Low Priced Stocks Rule.

What is the deadline for AGMH to appeal Nasdaq's delisting determination?

AGMH must request an appeal to Nasdaq's Hearings Panel by April 8, 2025, to avoid suspension of trading on April 10, 2025.

What happens to AGMH stock trading if they appeal the Nasdaq delisting?

If AGMH appeals, the trading suspension and Form 25-NSE filing will be stayed (temporarily halted) pending the Nasdaq Hearings Panel's decision.

What was the original compliance deadline given to AGMH for the $1.00 minimum bid requirement?

AGMH was originally given until September 9, 2025, to regain compliance with the $1.00 minimum bid requirement.