Lion Group Holding Announced Receipt of Nasdaq Listing Delinquency Notice

Rhea-AI Summary

Lion Group Holding received a delinquency notice from Nasdaq due to non-compliance with the minimum bid price rule. The company's bid price was below $1.00 for 30 consecutive days. Lion is working to regain compliance within the 180-day period.

Positive

• Lion Group Holding faces delisting from Nasdaq if it fails to regain compliance with the minimum bid price rule within 180 days.

Negative

• None.

HONG KONG, April 19, 2024 /PRNewswire/ -- Lion Group Holding Ltd. ("Lion" or "the Company") (NASDAQ: LGHL), the operator of an all-in-one trading platform that offers a wide spectrum of products and services, today announced that on April 18, 2024, it received a delinquency notification letter from the Listing Qualifications Staff of the Nasdaq Stock Market LLC due to the Company's non-compliance with Nasdaq Listing Rule 5550(a)(2), as the bid price of the Company's ordinary shares on the Nasdaq Capital Market was below $1.00 for 30 consecutive business days, from March 5, 2024 to date.

The Company is addressing the matter and is working to regain compliance within the 180 calendar day compliance period under Nasdaq rules.

Please refer to the Company's Report on Form 6-K filed with the Securities and Commission on April 19, 2023 for further information.

About Lion Group Holding Ltd.

Lion Group Holding Ltd. (Nasdaq: LGHL) operates an all-in-one, state-of-the-art trading platform that offers a wide spectrum of products and services, including (i) total return service (TRS) trading, (ii) contract-for-difference (CFD) trading, (iii) Hong Kong-based over-the-counter (OTC) stock options trading, and (iv) futures and securities brokerage. In addition, Lion owns a professional and experienced SPAC sponsorship team to become a leader in the SPAC arena, helping guide private companies through their listing journey. Additional information may be found at http://ir.liongrouphl.com.

Forward-Looking Statements

This press release contains, "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Lion's actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "might" and "continues," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, but are not limited to, statements about: Lion's goals and strategies; our ability to retain and increase the number of users, members and advertising customers, and expand its service offerings; Lion's future business development, financial condition and results of operations; expected changes in Lion's revenues, costs or expenditures; the impact of COVID-19; competition in the industry; relevant government policies and regulations relating to our industry; general economic and business conditions globally and in China; and assumptions underlying or related to any of the foregoing. Lion cautions that the foregoing list of factors is not exclusive. Lion cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Lion does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, subject to applicable law. Additional information concerning these and other factors that may impact our expectations and projections can be found in Lion's periodic filings with the SEC, including Lion's Annual Report on Form 20-F for the fiscal year ended December 31, 2022. Lion's SEC filings are available publicly on the SEC's website at www.sec.gov.

 

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SOURCE Lion Group Holding Ltd.

FAQ

Why did Lion Group Holding receive a delinquency notice from Nasdaq?

Lion Group Holding received a delinquency notice from Nasdaq due to non-compliance with the minimum bid price rule.

What was the bid price issue faced by Lion Group Holding ?

The bid price of Lion Group Holding 's ordinary shares on the Nasdaq Capital Market was below $1.00 for 30 consecutive business days.

What is Lion Group Holding doing to address the delinquency notice?

Lion Group Holding is working to regain compliance within the 180 calendar day compliance period under Nasdaq rules.

What happens if Lion Group Holding fails to regain compliance within the specified period?

Lion Group Holding faces delisting from Nasdaq if it fails to regain compliance with the minimum bid price rule within 180 days.