Bit Origin Ltd Regains Compliance with Nasdaq Listing Rule 5250(c)(1)
Rhea-AI Summary
Bit Origin (NASDAQ: BTOG), a crypto mining company, has successfully regained compliance with Nasdaq Listing Rule 5250(c)(1) following the filing of its annual report on Form 20-F for the fiscal year ended June 30, 2024. The company had previously received a non-compliance notice from Nasdaq on November 20, 2024, due to delayed filing. On December 27, 2024, Nasdaq confirmed that Bit Origin has met the listing requirement for timely submission of periodic financial reports to the SEC.
Positive
- Regained Nasdaq listing compliance, removing the risk of potential delisting
- Successfully filed required annual report Form 20-F
Negative
- Previously failed to meet filing deadlines, indicating potential internal control issues
News Market Reaction 1 Alert
On the day this news was published, BTOG gained 16.67%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
NEW YORK, Dec. 31, 2024 (GLOBE NEWSWIRE) -- Bit Origin Ltd (NASDAQ: BTOG) ("Bit Origin" or the "Company"), an emerging growth company engaged in the crypto mining business with diversified expansion strategies, announced today that the Company has regained compliance with Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”) in connection with the filing of its annual report on Form 20-F for the fiscal year ended June 30, 2024.
On November 20, 2024, the Company received a notice of non-compliance from The Nasdaq Stock Market LLC (the “Nasdaq”) due to the delayed filing of its annual report.
On December 27, 2024, the Company received a notice from Nasdaq that it has regained compliance with the Listing Rule, which requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission.
About Bit Origin Ltd
Bit Origin Ltd, formerly known as China Xiangtai Food Co., Ltd., is an emerging growth company operating in the United States and engaged in the cryptocurrency mining business. The Company is also actively deploying blockchain technologies alongside diversified expansion strategies. For more information, please visit https://bitorigin.io.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends 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 "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update 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.
Company Contact
Bit Origin Ltd
Mr. Jiang Jinghai, Chairman of the Board, CEO and COO
Email: ir@bitorigin.io
To keep updated on Bit Origin’s news releases and SEC filings, please subscribe to email alerts at https://bitorigin.io/contact
FAQ
When did Bit Origin (BTOG) regain Nasdaq compliance?
Why did BTOG receive a Nasdaq non-compliance notice in November 2024?
What Nasdaq rule did Bit Origin (BTOG) violate?
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