mF International Limited Receives Additional 180 Day Extension from Nasdaq to Regain Compliance with Minimum Bid Price Rule
mF International (Nasdaq: MFI) has received an additional 180-day extension from Nasdaq to meet the minimum bid price requirement of $1.00 per share. This extension follows the initial 180-day compliance period that expired on January 28, 2025, after the company received a non-compliance notice on August 1, 2024.
The company now has until July 28, 2025, to regain compliance by maintaining a closing bid price of at least $1.00 per share for a minimum of 10 consecutive business days. Failure to meet this requirement by the deadline could result in delisting from Nasdaq. The company states this notice does not affect its business operations, SEC reporting requirements, or contractual obligations.
mF International (Nasdaq: MFI) ha ricevuto un ulteriore prolungamento di 180 giorni da Nasdaq per soddisfare il requisito del prezzo minimo di offerta di $1,00 per azione. Questo prolungamento segue il periodo iniziale di conformità di 180 giorni scaduto il 28 gennaio 2025, dopo che la società ha ricevuto una notifica di non conformità il 1° agosto 2024.
La società ha tempo fino al 28 luglio 2025 per ripristinare la conformità mantenendo un prezzo di chiusura di almeno $1,00 per azione per un minimo di 10 giorni lavorativi consecutivi. Se non sarà in grado di rispettare questo requisito entro la scadenza, potrebbe subire una cancellazione dalla Nasdaq. La società dichiara che questa notifica non influisce sulle sue operazioni commerciali, sui requisiti di reporting SEC o sugli obblighi contrattuali.
mF International (Nasdaq: MFI) ha recibido una extensión adicional de 180 días de Nasdaq para cumplir con el requisito de precio mínimo de oferta de $1.00 por acción. Esta extensión sigue al período de cumplimiento inicial de 180 días que expiró el 28 de enero de 2025, después de que la empresa recibió un aviso de no cumplimiento el 1 de agosto de 2024.
La empresa ahora tiene hasta el 28 de julio de 2025 para recuperar el cumplimiento manteniendo un precio de oferta de cierre de al menos $1.00 por acción durante un mínimo de 10 días hábiles consecutivos. No cumplir con este requisito antes de la fecha límite podría resultar en la exclusión de Nasdaq. La empresa afirma que este aviso no afecta sus operaciones comerciales, requisitos de informes a la SEC o obligaciones contractuales.
mF International (Nasdaq: MFI)는 Nasdaq로부터 주당 최소 입찰 가격 요구 사항인 $1.00을 충족하기 위해 추가로 180일의 연장을 받았습니다. 이 연장은 2025년 1월 28일에 만료된 최초 180일의 준수 기간에 이어진 것으로, 회사는 2024년 8월 1일에 비준수 통지를 받았습니다.
회사는 이제 2025년 7월 28일까지 10일 연속 영업일 동안 주당 최소 $1.00의 마감 입찰 가격을 유지함으로써 준수를 회복해야 합니다. 이 요구 사항을 마감일까지 충족하지 못할 경우 Nasdaq에서 상장 폐지될 수 있습니다. 회사는 이 통지가 비즈니스 운영, SEC 보고 요건 또는 계약적 의무에 영향을 미치지 않는다고 명시했습니다.
mF International (Nasdaq: MFI) a reçu une extension supplémentaire de 180 jours de la part de Nasdaq pour satisfaire à l'exigence de prix minimum de l'offre de 1,00 $ par action. Cette extension fait suite à la période de conformité initiale de 180 jours qui a expiré le 28 janvier 2025, après que la société a reçu un avis de non-conformité le 1er août 2024.
La société dispose maintenant jusqu'au 28 juillet 2025 pour rétablir la conformité en maintenant un prix de clôture d'au moins 1,00 $ par action pendant un minimum de 10 jours ouvrables consécutifs. Ne pas respecter cette exigence d'ici la date limite pourrait entraîner une radiation de Nasdaq. La société déclare que cet avis n'affecte pas ses opérations commerciales, ses exigences de déclaration auprès de la SEC ou ses obligations contractuelles.
mF International (Nasdaq: MFI) hat von Nasdaq eine zusätzliche 180-tägige Frist erhalten, um die Mindestgebotsanforderung von $1,00 pro Aktie zu erfüllen. Diese Frist folgt auf den ursprünglichen 180-tägigen Compliance-Zeitraum, der am 28. Januar 2025 abgelaufen ist, nachdem das Unternehmen am 1. August 2024 eine Non-Compliance-Mitteilung erhalten hatte.
Das Unternehmen hat nun bis zum 28. Juli 2025, um die Compliance wiederherzustellen, indem es einen Schlussgebotspreis von mindestens $1,00 pro Aktie für mindestens 10 aufeinanderfolgende Geschäftstage beibehält. Wenn diese Anforderung bis zur Frist nicht erfüllt wird, könnte dies zur Delistung von Nasdaq führen. Das Unternehmen erklärt, dass diese Mitteilung seine Geschäftstätigkeit, SEC-Berichtspflichten oder vertragliche Verpflichtungen nicht betrifft.
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Insights
The receipt of a second 180-day extension from Nasdaq represents a critical juncture for mF International. With a current market cap of
Common compliance strategies include:
- Reverse stock split - While this would mathematically increase the share price, it doesn't address underlying business fundamentals
- Business development initiatives to attract investor interest
- Strategic transactions or restructuring to enhance value
The implications for investors are substantial. A potential delisting from Nasdaq would result in:
- Reduced liquidity and wider bid-ask spreads
- institutional investor access
- Decreased analyst coverage
- Potential migration to over-the-counter markets
While the company states this development doesn't affect operations or SEC reporting requirements, the market typically views repeated bid price compliance extensions as a red flag. The July 28, 2025 deadline provides important time for strategic maneuvers, but historical patterns show that companies in similar situations often struggle to achieve sustainable compliance without significant operational improvements or corporate actions.
As previously announced, the Company received a written notification from Nasdaq dated August 1, 2024, indicating that because the closing bid price of the Company's ordinary shares for the previous 30 consecutive business days was below
As of the date hereof, the Company has not regained compliance with the Bid Price Requirement. Pursuant to the Extension Notice, the Company is eligible for an additional 180 calendar day period, or until July 28, 2025, to regain compliance with the Bid Price Requirement. To regain compliance, the Company's Class A ordinary shares must have a closing bid price of at least
The Company intends to monitor the closing bid price of its Class A ordinary shares between now and July 28, 2025, and is considering its options to regain compliance with the Bid Price Requirement. The Company believes that the Extension Notice does not affect the Company's business operations, its
About mF International Limited
mF International Limited is a
Forward-Looking Statements
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 find many (but not all) of these statements by the use of words such as "approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or other similar. 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
For investor and media inquiries, please contact:
mF International Limited
Investor Relations Department
Email: ir@m-finance.net
ICR, LLC
Robin Yang
Email: mFInternational.IR@icrinc.com
Phone: +1 (646) 308-1475
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SOURCE mF International Limited
FAQ
What is the deadline for MFI to meet Nasdaq's minimum bid price requirement?
What happens if MFI fails to meet the $1.00 minimum bid price by July 28, 2025?
How long must MFI maintain a $1.00 share price to regain compliance?
When did MFI first receive the Nasdaq non-compliance notice?
Does the Nasdaq extension notice affect MFI's business operations?
