iClick Interactive Regains Compliance with Nasdaq's Minimum Bid Price Requirement

Rhea-AI Summary

iClick Interactive Asia Group Limited (NASDAQ: ICLK), a leading marketing cloud platform in China, announced it has regained compliance with Nasdaq's Minimum Bid Price Requirement. The company received a Compliance Notice on November 29, 2022, indicating its American depositary shares (ADSs) have met the price of $1.00 for 10 consecutive business days since November 14, 2022. This follows a previous notification from June 14, 2022, regarding the ADSs falling below the required minimum bid price.

Positive

• Regained compliance with Nasdaq's Minimum Bid Price Requirement.
• ADSs traded at $1.00 or greater for 10 consecutive business days.

Negative

• None.

HONG KONG, Nov. 30, 2022 /PRNewswire/ -- iClick Interactive Asia Group Limited ("iClick" or the "Company") (NASDAQ: ICLK), a leading enterprise and marketing cloud platform in China that empowers worldwide brands with full-stack consumer lifecycle solutions, today announced that it received a notification letter (the "Compliance Notice") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") dated November 29, 2022, informing the Company that it has regained compliance with the Nasdaq Listing Rule 5450(a)(1) (the "Minimum Bid Price Requirement").

As previously announced, the Company received a notification letter from the Nasdaq dated June 14, 2022 indicating that the closing bid price of the Company's American depositary shares (the "ADSs") was below the minimum bid price of $1.00 required for continued listing under the Nasdaq Listing Rule 5450(a)(1) for 30 consecutive business days. In order to regain compliance with the Minimum Bid Price Requirement, the Company changed the ratio of its ADSs representing its Class A ordinary shares from one (1) ADS representing one-half (1/2) of one Class A ordinary share to one (1) ADS representing five (5) Class A ordinary shares. The change became effective on November 14, 2022.

According to the Compliance Notice, the closing bid price of the Company's ADSs has been at $1.00 per ADS or greater for 10 consecutive business days from November 14 through November 28, 2022, and the Company has regained compliance with the Minimum Bid Price Requirement and the matter is closed.

About iClick Interactive Asia Group Limited

Founded in 2009, iClick Interactive Asia Group Limited (NASDAQ: ICLK) is a leading enterprise and marketing cloud platform in China. iClick's mission is to empower worldwide brands to unlock the enormous market potential of smart retail. With its leading proprietary technologies, iClick's full suite of data-driven solutions helps brands drive significant business growth and profitability throughout the full consumer lifecycle. Headquartered in Hong Kong, iClick currently operates in eleven locations across Asia and Europe. For more information, please visit https://ir.i-click.com. 

For investor and media inquiries, please contact:

In China:	In the United States:
iClick Interactive Asia Group Limited	Core IR
Lisa Li	Tom Caden
Phone: +86-21-3230-3931 #866	Tel: +1-516-222-2560
E-mail: ir@i-click.com	E-mail: tomc@coreir.com

 

 

 

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SOURCE iClick Interactive Asia Group Limited

FAQ

What does it mean for ICLK to regain compliance with Nasdaq?

It means ICLK's American depositary shares have met the minimum bid price requirement set by Nasdaq, allowing them to continue trading.

When did ICLK regain compliance with Nasdaq's Minimum Bid Price Requirement?

iClick regained compliance on November 29, 2022, after meeting the required price from November 14 to November 28, 2022.

What was the reason ICLK received a compliance notice from Nasdaq?

The compliance notice was due to ICLK's ADSs trading below the minimum bid price of $1.00 for 30 consecutive business days.

What changes did ICLK make to regain compliance with Nasdaq?

iClick changed the ratio of its ADSs from one ADS representing one-half of one Class A ordinary share to one ADS representing five Class A ordinary shares.