Magic Empire Global Limited announces that the bid price deficiency concern raised by Nasdaq has been successfully resolved
Magic Empire Global (NASDAQ: MEGL) has successfully resolved its bid price deficiency concern with Nasdaq. The company received formal notification on March 4, 2025, confirming compliance with the Nasdaq Minimum Bid Price Requirement after maintaining a closing bid price of $1.00 or higher for 10 consecutive business days from February 18 to March 3, 2025.
This resolution comes after a previous notification on February 26, 2025, where Nasdaq had initially determined MEGL's non-compliance with Listing Rule 5550(a)(2), which would have resulted in delisting from the Capital Market. The successful compliance means the prior bid price deficiency matter is now closed, and MEGL will continue its listing on the Nasdaq Capital Market.
Magic Empire Global (NASDAQ: MEGL) ha risolto con successo la sua preoccupazione riguardo alla carenza di prezzo di offerta con Nasdaq. L'azienda ha ricevuto una notifica formale il 4 marzo 2025, confermando la conformità al Requisito Minimo di Prezzo di Offerta di Nasdaq dopo aver mantenuto un prezzo di offerta di chiusura di $1,00 o superiore per 10 giorni lavorativi consecutivi, dal 18 febbraio al 3 marzo 2025.
Questa risoluzione arriva dopo una precedente notifica del 26 febbraio 2025, in cui Nasdaq aveva inizialmente determinato la non conformità di MEGL con la Regola di Quotazione 5550(a)(2), che avrebbe potuto comportare la delisting dal Mercato di Capitale. La conformità riuscita significa che la questione della carenza di prezzo di offerta è ora chiusa e MEGL continuerà la sua quotazione sul Mercato di Capitale di Nasdaq.
Magic Empire Global (NASDAQ: MEGL) ha resuelto con éxito su preocupación por la deficiencia del precio de oferta con Nasdaq. La compañía recibió una notificación formal el 4 de marzo de 2025, confirmando el cumplimiento con el Requisito Mínimo de Precio de Oferta de Nasdaq después de mantener un precio de oferta de cierre de $1.00 o más durante 10 días hábiles consecutivos, desde el 18 de febrero hasta el 3 de marzo de 2025.
Esta resolución llega tras una notificación previa el 26 de febrero de 2025, donde Nasdaq había determinado inicialmente la no conformidad de MEGL con la Regla de Cotización 5550(a)(2), lo que podría haber resultado en la deslistación del Mercado de Capitales. El cumplimiento exitoso significa que el asunto anterior de deficiencia de precio de oferta ahora está cerrado y MEGL continuará su cotización en el Mercado de Capitales de Nasdaq.
매직 엠파이어 글로벌 (NASDAQ: MEGL)은 나스닥과의 입찰 가격 부족 문제를 성공적으로 해결했습니다. 이 회사는 2025년 3월 4일에 나스닥 최소 입찰 가격 요건을 준수했음을 확인하는 공식 통지를 받았으며, 2025년 2월 18일부터 3월 3일까지 10일 연속으로 $1.00 이상의 종가를 유지했습니다.
이 해결은 2025년 2월 26일의 이전 통지 이후에 이루어졌으며, 나스닥은 처음에 MEGL의 상장 규칙 5550(a)(2) 불이행을 판단하여 자본 시장에서의 상장 폐지를 초래할 수 있었습니다. 성공적인 준수는 이전의 입찰 가격 부족 문제가 이제 종료되었음을 의미하며, MEGL은 나스닥 자본 시장에서의 상장을 계속 유지할 것입니다.
Magic Empire Global (NASDAQ: MEGL) a réussi à résoudre son problème de carence de prix d'offre avec Nasdaq. La société a reçu une notification formelle le 4 mars 2025, confirmant sa conformité avec l'Exigence Minimale de Prix d'Offre de Nasdaq après avoir maintenu un prix de clôture de 1,00 $ ou plus pendant 10 jours ouvrables consécutifs, du 18 février au 3 mars 2025.
Cette résolution intervient après une notification précédente le 26 février 2025, où Nasdaq avait initialement déterminé que MEGL n'était pas en conformité avec la Règle d'Inscription 5550(a)(2), ce qui aurait pu entraîner une radiation du Marché des Capitaux. La conformité réussie signifie que la question précédente de carence de prix d'offre est maintenant close et que MEGL continuera sa cotation sur le Marché des Capitaux de Nasdaq.
Magic Empire Global (NASDAQ: MEGL) hat erfolgreich seine Bedenken hinsichtlich der Angebotskursmangel mit Nasdaq gelöst. Das Unternehmen erhielt am 4. März 2025 eine formelle Mitteilung, die die Einhaltung der Nasdaq-Mindestanforderung für den Angebotskurs bestätigte, nachdem es einen Schlusskurs von 1,00 $ oder mehr für 10 aufeinanderfolgende Geschäftstage vom 18. Februar bis 3. März 2025 aufrechterhalten hatte.
Diese Lösung folgt auf eine vorherige Mitteilung vom 26. Februar 2025, in der Nasdaq zunächst festgestellt hatte, dass MEGL gegen die Listungsregel 5550(a)(2) verstoßen hatte, was zu einer Delistung vom Kapitalmarkt geführt hätte. Die erfolgreiche Einhaltung bedeutet, dass die vorherige Angelegenheit des Angebotskursmangels nun abgeschlossen ist und MEGL weiterhin an der Nasdaq-Kapitalmarkt gelistet bleibt.
- Regained Nasdaq listing compliance, avoiding potential delisting
- Maintained $1.00+ share price for 10 consecutive trading days
- Secured continued listing on Nasdaq Capital Market
- Previously faced delisting risk due to minimum bid price non-compliance
Hong Kong, March 04, 2025 (GLOBE NEWSWIRE) -- Magic Empire Global Limited (NASDAQ: MEGL) (“MEGL”, or the “Company”) is pleased to announce that the bid price deficiency concern raised by Nasdaq has been successfully resolved.
The Company has received written notification (the “Nasdaq Notice”) from The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it has regained compliance with the minimum bid price requirement set forth in the rules for continued listing on the Nasdaq Capital Market (the “Listing Rules”).
On February 26, 2025, the Company received a letter from Nasdaq notifying the Company that it has not regained compliance with Listing Rule 5550(a)(2). Accordingly, its securities will be delisted from the Capital Market. The Company may appeal Staff’s determination to the Panel, pursuant to the procedures set forth in the Nasdaq Listing Rule 5800 Series.
On March 4, 2025, the Company received formal notification from Nasdaq, that the Company has regained compliance with the Nasdaq Minimum Bid Price Requirement. Nasdaq made this determination of compliance after the closing bid price of the Company’s ordinary shares was at
MEGL remains committed to maintaining the highest standards of corporate governance and compliance. The company appreciates the support of its shareholders.
About Magic Empire Global Limited
Magic Empire Global Limited is a financial services provider in Hong Kong which principally engage in the provision of corporate finance advisory services and underwriting services. Its service offerings mainly comprise (i) IPO sponsorship services; (ii) financial advisory and independent financial advisory services; (iii) compliance advisory services; (iv) underwriting services; and (iv) corporate services. For more information, visit the Company’s website at http://www.meglmagic.com.
Safe Harbor Statement
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 “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” or other 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 SEC, which are available for review at www.sec.gov.
Hong Kong:
Magic Empire Global Limited
Ms. Vivien Tai
Tel: +852 3577 8770
E-mail: meglir@giraffecap.com
FAQ
How did Magic Empire Global (MEGL) resolve its Nasdaq bid price deficiency in March 2025?
What was the minimum share price requirement MEGL needed to meet for Nasdaq compliance?
When did MEGL receive the initial Nasdaq delisting notice?
What is the current status of MEGL's Nasdaq listing after resolving the bid price deficiency?
