TDH Holdings, Inc. Announces Receipt of Nasdaq Continued Listing Deficiency Notice

Rhea-AI Summary

On February 23, 2022, TDH Holdings, Inc. (NASDAQ: PETZ) received a notification from Nasdaq stating that its common stock no longer meets the minimum bid price requirement of $1.00 per share, effective for the last 30 consecutive business days. The Company has until August 22, 2022, to meet this requirement by closing at or above $1.00 for 10 consecutive days. If compliance is not achieved, TDH may pursue additional time or consider options like a reverse stock split. The Company cautions that there is no guarantee it will regain compliance.

Positive

• None.

Negative

• Currently does not meet the Nasdaq minimum bid price requirement of $1.00 per share.
• Has only until August 22, 2022, to regain compliance, which presents a tight deadline.
• May face delisting if compliance is not achieved, affecting shareholders' investments.

QINGDAO, China, Feb. 25, 2022 /PRNewswire/ -- TDH Holdings, Inc. (NASDAQ: PETZ) ("TDH" or the "Company"), a PRC-based company that specializes in the development, manufacturing and sales of pet food products in China and beyond, today announced on February 23, 2022, the Company received a notification letter from Nasdaq Listing Qualifications advising the Company that based upon the closing bid price for the Company's common shares for the past 30 consecutive business days, the Company no longer met the minimum $1.00 per share Nasdaq continued listing requirement set forth in Nasdaq Listing Rule 5550(a)(2). The notification also stated that the Company would be provided 180 calendar days, or until August 22, 2022, to regain compliance with the foregoing listing requirement. To do so, the bid price of the Company's common stock must close at or above $1.00 per share for a minimum of 10 consecutive business days prior to that date.

If the Company does not regain compliance by the compliance deadline, the Company may be eligible for additional time to regain compliance. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and will need to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. If the Company meets these requirements, the Nasdaq staff will inform the Company that it has been granted an additional 180 calendar days. However, if it appears to the Nasdaq staff that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, the staff will provide notice that its securities will be subject to delisting.

The Company provides no assurance that its common shares will trade at levels necessary to regain and maintain compliance with the above-referenced bid price rule before the compliance deadline. The Company intends to continue to monitor the bid price for its common shares. If the Company's common shares do not trade at a level that is likely to regain compliance with the Nasdaq requirements, the Company's Board of Directors will consider other options that may be available to achieve compliance.

About TDH Holdings, Inc.

Founded in April 2002, TDH Holdings, Inc. (the "Company") (NASDAQ: PETZ), is a developer, manufacturer and distributer of a variety of pet food products under multiple brands that are sold in China, Asia and Europe. More information about the Company can be found at www.tiandihui.com.

Forward-Looking Statements

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements.  Specifically, the Company's statements regarding: its ability to regain compliance with the Nasdaq listing requirements are forward-looking statements.  Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following:  the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of the petfood industry in China and internationally; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and internationally and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission.  For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

For more information, please contact:

Feng Zhang, CFO
Email: 770826183@qq.com
Phone: +86 183-1102-1983

View original content:https://www.prnewswire.com/news-releases/tdh-holdings-inc-announces-receipt-of-nasdaq-continued-listing-deficiency-notice-301490412.html

SOURCE TDH Holdings, Inc.

FAQ

What did TDH Holdings announce on February 23, 2022?

TDH Holdings announced that it received a notification from Nasdaq indicating it no longer meets the minimum bid price requirement of $1.00 per share.

What is the deadline for TDH Holdings to regain compliance with Nasdaq requirements?

TDH Holdings has until August 22, 2022, to regain compliance with the $1.00 minimum bid price requirement.

What happens if TDH Holdings does not regain compliance by the deadline?

If TDH Holdings does not regain compliance, it may be eligible for additional time or could face delisting from Nasdaq.

What must TDH Holdings do to regain compliance with Nasdaq?

TDH Holdings must ensure its common stock closes at or above $1.00 per share for at least 10 consecutive business days.

What risks does TDH Holdings mention regarding its Nasdaq compliance?

TDH Holdings cautions that there is no assurance its common shares will meet the bid price requirement before the compliance deadline.