CLPS Incorporation Regains Compliance with Nasdaq Minimum Bid Price Requirement

Rhea-AI Summary

CLPS Incorporation (Nasdaq: CLPS) has announced that it has regained compliance with Nasdaq's minimum bid price requirement. The company received a written notice from Nasdaq confirming that the minimum bid price of CLPS's common share was $1.00 or greater for the last 10 consecutive trading days from August 22 through September 5, 2024. As a result, CLPS has fully complied with Nasdaq's Listing Rule 5450(a)(1), and the matter is now closed. This development ensures CLPS's continued listing on the Nasdaq Stock Market, which is important for maintaining investor confidence and market visibility.

Positive

• Regained compliance with Nasdaq's minimum bid price requirement
• Maintained stock price of $1.00 or above for 10 consecutive trading days
• Ensured continued listing on Nasdaq Stock Market

Negative

• None.

Financial Analyst

CLPS Incorporation's compliance with Nasdaq's minimum bid price requirement is a positive development for the company. Maintaining listing on a major exchange like Nasdaq is important for investor confidence and market visibility. This news suggests that CLPS has managed to stabilize its stock price above the $1 threshold, which is often seen as a key indicator of financial health.

However, investors should note that while regaining compliance is important, it doesn't necessarily reflect improvements in the company's fundamental performance or growth prospects. It's essential to examine CLPS's financial statements, growth strategy and market position to form a comprehensive view of its investment potential. The stock's ability to maintain this price level will be important for long-term stability on the Nasdaq exchange.

HONG KONG, Sept. 9, 2024 /PRNewswire/ -- CLPS Incorporation (the "Company" or "CLPS") (Nasdaq: CLPS) today announced that it has received a written notice ("Notification") from the Nasdaq Stock Market LLC ("Nasdaq") informing that the Company has regained compliance with the Nasdaq's minimum bid price requirement.

According to the Notification, the minimum bid price of the Company's common share was $1.00 per share or greater for the last 10 consecutive trading days from August 22 through September 5, 2024. As a result, CLPS has regained full compliance with Nasdaq's Listing Rule 5450(a)(1), and the matter is now closed.

About CLPS Incorporation

Headquartered in Hong Kong, CLPS Incorporation is a global leading information technology ("IT") consulting and solutions service provider focused on delivering services primarily to global institutions on the banking, wealth management, e-commerce, and automotive sectors. The Company serves as an IT service provider to a growing network of clients in the global financial service industry, including large financial institutions in the U.S., Europe, Australia, Asia, and their PRC-based IT centers. The Company maintains 20 delivery and/or research & development centers to serve different customers in various geographic locations. Mainland China centers are located in Shanghai, Beijing, Dalian, Tianjin, Xi'an, Chengdu, Guangzhou, Shenzhen, Hangzhou, and Hainan. The remaining 10 global centers are located in Hong Kong SAR, USA, Japan, Singapore, Australia, Malaysia, India, Philippines, Canada, and UAE. For further information regarding the Company, please visit: https://ir.clpsglobal.com/, or follow CLPS on Facebook, Instagram, LinkedIn, X (formerly Twitter), and YouTube.

Forward-Looking Statements

Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to the Company's beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance. Known and unknown risks, uncertainties and other factors, which may be beyond the Company's control, may cause the actual results and performance of the Company to be materially different from such forward-looking statements. All such statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties related to the Company's expectations of the Company's future growth, performance and results of operations, the Company's ability to capitalize on various commercial, M&A, technology and other related opportunities and initiatives, as well as the risks and uncertainties described in the Company's most recently filed SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.

Contact:

CLPS Incorporation
Rhon Galicha
Investor Relations Office
Phone: +86-182-2192-5378
Email: ir@clpsglobal.com

View original content:https://www.prnewswire.com/news-releases/clps-incorporation-regains-compliance-with-nasdaq-minimum-bid-price-requirement-302241878.html

SOURCE CLPS

FAQ

What was the minimum bid price requirement CLPS had to meet for Nasdaq compliance?

CLPS had to maintain a minimum bid price of $1.00 or greater for its common shares for at least 10 consecutive trading days to regain compliance with Nasdaq's Listing Rule 5450(a)(1).

When did CLPS Incorporation (CLPS) regain compliance with Nasdaq's minimum bid price requirement?

CLPS regained compliance with Nasdaq's minimum bid price requirement during the period from August 22 through September 5, 2024, as confirmed by Nasdaq on September 9, 2024.

What are the implications of CLPS regaining compliance with Nasdaq's listing requirements?

By regaining compliance, CLPS ensures its continued listing on the Nasdaq Stock Market, which is important for maintaining investor confidence, market visibility, and access to capital markets.