Springview Holdings Ltd Initiates Appeal Following Nasdaq Delisting Notice

Rhea-AI Summary

Springview Holdings (Nasdaq: SPHL) received a Nasdaq Staff Delisting Determination after failing to maintain a $1.00 minimum bid for the required period. Nasdaq notified the company on April 25, 2025 of noncompliance and gave until October 22, 2025 to regain compliance. On October 24, 2025 Nasdaq issued a delisting determination and advised that trading will be suspended at the opening of business on November 4, 2025 under Rule 5810(3)(A)(ii).

The company has appealed to a Nasdaq Hearings Panel and said it will use reasonable efforts to regain compliance, but noted there is no assurance it will succeed.

Positive

• Company filed an appeal to a Nasdaq Hearings Panel
• Hearing window typically occurs in 30–45 days after request

Negative

• Failed to maintain minimum $1.00 closing bid for 30 consecutive business days
• Did not regain compliance by October 22, 2025
• Nasdaq issued a Staff Delisting Determination on October 24, 2025
• Trading suspension effective at open on November 4, 2025

Insights

Listing Compliance Analyst

Nasdaq issued a delisting determination for Springview Holdings; the company appealed and faces imminent trading suspension.

Springview Holdings failed to maintain the required minimum bid price of $1.00 for the 30-day period ending April 25, 2025, and did not regain compliance by the cure deadline of Oct 22, 2025. Nasdaq issued a Staff Delisting Determination and set suspension to occur at market open on Nov 4, 2025, triggering an appeal to a Hearings Panel under the Listing Rule 5800 Series.

The main business mechanism at work is Nasdaq’s continued listing rule enforcement tied to the $1.00 minimum bid requirement. The company has formally requested a hearing; hearings typically schedule about 30-45 days after the request. The company must deliver the hearing request by Oct 31, 2025 at 4:00 p.m. ET to preserve that procedural right.

Key dependencies and risks include the Panel’s review outcome and any near-term bid-price recovery before the suspension date. There is no assurance of regaining compliance or meeting other Nasdaq criteria. Monitor the Panel scheduling and any concrete evidence of restored bid-price compliance or an alternative Nasdaq remedy within the next 30-45 days.

Singapore, Oct. 31, 2025 (GLOBE NEWSWIRE) -- As previously reported, on April 25, 2025, Springview Holdings Ltd (Nasdaq: SPHL) (the “Company”) received a letter from the Listing Qualifications Department of the Nasdaq Stock Market (“Nasdaq”) regarding the Company’s failure to comply with Nasdaq Continued Listing Rule 5550(a)(2) (the “Rule”), which requires listed securities to maintain a minimum bid price of $1.00 per share. A failure to comply with Rule 5550(a)(2) exists when listed securities fail to maintain a closing bid price of at least $1.00 per share for 30 consecutive business days. Based on the closing bid price for the last 30 consecutive business days prior to April 25, 2025, the Company failed to meet the aforesaid requirement. Therefore, in accordance with Listing Rule 5810(c)(3)(A), the Company was provided 180 calendar days, or until October 22, 2025, to regain compliance with the Rule.

On October 24, 2025, the Company received a letter from the Listing Qualifications Department of the Nasdaq regarding the Company’s failure to regain compliance with Listing Rule 5550(a)(2), which resulted in a Staff Delisting Determination under Rule 5810(3)(A)(ii). Under the Staff Delisting Determination, the trading of the Company’s Class A ordinary shares will be suspended at the opening of business on November 4, 2025.

The Company has appealed Staff’s determination to a Hearings Panel (the “Panel”), pursuant to the procedures set forth in the Nasdaq Listing Rule 5800 Series. The Company has been informed that hearings are typically scheduled to occur approximately 30-45 days after the date of the hearing request. The request for a hearing must be received by the Nasdaq Hearings Department no later than 4:00 p.m. Eastern Time on October 31, 2025. Although the Company will use all reasonable efforts to regain compliance with Rule 5550(a)(2), there can be no assurance that the Company will be able to regain compliance with that rule or will otherwise be in compliance with other Nasdaq listing criteria.

About Springview Holdings Ltd

Springview Holdings Ltd (Nasdaq: SPHL) designs and constructs residential and commercial buildings in Singapore, with an operating history dating back to 2002. Springview’s projects cover four main types of work: new construction, reconstruction, additions and alterations, and other general contracting services. With a skilled team of in-house experts, the Company provides a one stop solution that fosters strong customer relationships, offering a comprehensive range of services such as design, construction, furniture customization and project management. The Company also offers post-project services, including defect repairs and maintenance, that further enhances its customer engagement and future project opportunities. For more information, please visit the Company’s website: https://ir.springviewggl.com/.

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this announcement are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. All statements other than statements of historical facts included in this announcement are forward-looking statements. Forward-looking statements include, but are not limited to, express or implied statements regarding expectations, hopes, beliefs, intentions or strategies of the Company regarding the future including, without limitation, express or implied statements regarding: the expected completion of the Private Placement, the potential full exercise of the warrant and the additional proceeds therefrom. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company’s current beliefs, expectations and assumptions regarding the future of its business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company’s control. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. Forward-looking statements are based on current expectations and assumptions that, while considered reasonable are inherently uncertain. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties.  The Company’s actual results may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results to differ materially from those indicated in the forward-looking statements include the risks and uncertainties described in the Company’s annual report on Form 20-F for the year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission (the “Commission”) on April 28, 2025, and the Company’s other filings with the Commission. Except as required by law, the Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

For more information, please contact:
Springview Holdings Ltd
Investor Relations Department
Email: ir@springviewggl.com

FAQ

Why did Nasdaq issue a delisting notice for Springview Holdings (SPHL) on October 24, 2025?

Nasdaq determined SPHL failed to maintain a closing bid price of at least $1.00 for the required 30 consecutive business days.

When will SPHL trading be suspended on Nasdaq after the October 24, 2025 determination?

Trading is scheduled to be suspended at the opening of business on November 4, 2025.

Has Springview Holdings (SPHL) appealed the Nasdaq delisting determination and what is the deadline?

The company has appealed to a Nasdaq Hearings Panel; the hearing request must be received by Nasdaq no later than 4:00 p.m. ET on October 31, 2025.

How long until a Nasdaq Hearings Panel typically hears an appeal for SPHL?

Hearings are typically scheduled approximately 30–45 days after the hearing request is received.

Did Springview regain compliance with Nasdaq Rule 5550(a)(2) before the deadline?

No; the company did not regain compliance by the October 22, 2025 deadline.

Does Springview guarantee it will regain Nasdaq compliance after the appeal?

No; the company said it will use reasonable efforts but provided no assurance it will regain compliance.