SIMPPLE LTD. Announces Receipt of Nasdaq Staff Determination Letter
SIMPPLE (SPPL) has received notice from Nasdaq that it fails to meet the minimum bid price requirement of $1 per share based on trading from March 14 to April 25, 2024. After failing to regain compliance within the initial 180-day period ending October 23, 2024, the company received a delisting notice on October 24. SIMPPLE plans to request a hearing before the Nasdaq Panel, which will temporarily stay any delisting action. The company will present a compliance plan at the hearing, though there's no guarantee the Panel will grant an extension or that SIMPPLE's efforts to maintain its Nasdaq listing will succeed.
SIMPPLE (SPPL) ha ricevuto una comunicazione da Nasdaq riguardante il mancato rispetto del requisito di prezzo minimo di offerta di $1 per azione, sulla base delle contrattazioni dal 14 marzo al 25 aprile 2024. Dopo non essere riuscita a ripristinare la conformità entro il periodo iniziale di 180 giorni che termina il 23 ottobre 2024, la società ha ricevuto un avviso di delisting il 24 ottobre. SIMPPLE intende richiedere un'udienza davanti al Nasdaq Panel, che sospenderà temporaneamente qualsiasi azione di delisting. L'azienda presenterà un piano di conformità durante l'udienza, anche se non c'è garanzia che il Panel concederà un'estensione o che gli sforzi di SIMPPLE per mantenere la propria quotazione su Nasdaq avranno successo.
SIMPPLE (SPPL) ha recibido un aviso de Nasdaq que indica que no cumple con el requisito de precio mínimo de oferta de $1 por acción, basado en las operaciones del 14 de marzo al 25 de abril de 2024. Después de no poder recuperar el cumplimiento dentro del período inicial de 180 días que finaliza el 23 de octubre de 2024, la compañía recibió un aviso de deslistado el 24 de octubre. SIMPPLE planea solicitar una audiencia ante el Panel de Nasdaq, lo que suspenderá temporalmente cualquier acción de deslistado. La empresa presentará un plan de cumplimiento en la audiencia, aunque no hay garantía de que el Panel otorgue una extensión o que los esfuerzos de SIMPPLE para mantener su lista en Nasdaq tengan éxito.
SIMPPLE (SPPL)은 2024년 3월 14일부터 4월 25일까지의 거래를 기준으로 주당 $1의 최소 입찰 가격 요구 사항을 충족하지 못했다는 공지를 나스닥으로부터 받았습니다. 2024년 10월 23일 종료되는 180일 초기 기간 내에 준수를 회복하지 못한 후, 회사는 10월 24일에 상장 폐지 통지를 받았습니다. SIMPPLE은 나스닥 패널 앞에서 청문회를 요청할 계획이며, 이로 인해 상장 폐지 조치가 일시적으로 유예될 것입니다. 회사는 청문회에서 준수 계획을 제출할 예정이지만, 패널이 연장을 허가하거나 SIMPPLE이 나스닥 상장을 유지하기 위한 노력이 성공할 것이라는 보장은 없습니다.
SIMPPLE (SPPL) a reçu un avis du Nasdaq l'informant qu'il ne respecte pas l'exigence de prix d'offre minimum de 1 $ par action sur la base des transactions effectuées entre le 14 mars et le 25 avril 2024. Après n'avoir pas réussi à retrouver la conformité dans le délai initial de 180 jours se terminant le 23 octobre 2024, la société a reçu un avis de radiation le 24 octobre. SIMPPLE prévoit de demander une audience devant le panel du Nasdaq, ce qui suspendra temporairement toute action de radiation. L'entreprise présentera un plan de conformité lors de l'audience, bien qu'il n'y ait aucune garantie que le panel accordera une prolongation ou que les efforts de SIMPPLE pour maintenir son inscription au Nasdaq réussiront.
SIMPPLE (SPPL) hat von Nasdaq die Mitteilung erhalten, dass es die Mindestanforderung für den Gebotskurs von $1 pro Aktie basierend auf dem Handel vom 14. März bis zum 25. April 2024 nicht erfüllt. Nachdem das Unternehmen innerhalb des anfänglichen 180-tägigen Zeitraums, der am 23. Oktober 2024 endet, nicht in der Lage war, die Vorschriften wiederherzustellen, erhielt es am 24. Oktober eine Mitteilung über die Streichung. SIMPPLE plant, eine Anhörung vor dem Nasdaq-Panel zu beantragen, was vorübergehend alle Streichungsmaßnahmen aussetzen wird. Das Unternehmen wird während der Anhörung einen Compliance-Plan präsentieren, jedoch gibt es keine Garantie, dass das Panel eine Verlängerung gewährt oder dass die Bemühungen von SIMPPLE, die Nasdaq-Notierung aufrechtzuerhalten, erfolgreich sein werden.
- None.
- Failed to maintain Nasdaq's minimum $1 bid price requirement
- Received delisting notice from Nasdaq
- Risk of potential delisting from Nasdaq Capital Market
- Failed to regain compliance within initial 180-day period
Insights
This Nasdaq delisting notice represents a significant development that threatens SIMPPLE's market accessibility and investor confidence. The company's failure to maintain the
- Potential forced transition to over-the-counter markets, resulting in reduced liquidity
- Risk of institutional investor exodus due to investment mandate restrictions
- Increased difficulty in raising future capital
While the temporary stay provides breathing room, without a concrete plan for share price improvement - possibly through reverse stock split or fundamental business enhancement - the delisting risk remains substantial. This situation typically triggers increased volatility and warrants careful investor consideration.
Singapore, Oct. 25, 2024 (GLOBE NEWSWIRE) -- SIMPPLE LTD. (Nasdaq: SPPL) (the “Company” or “SIMPPLE”), an advanced technology solution provider in the emerging property-technology (“PropTech”) space, today announced that on April 26, 2024, the Company received a letter from the Listing Qualifications staff of The Nasdaq Stock Market (“Nasdaq”) notifying the Company that based on the closing bid price of the Company for the period from March 14, 2024 to April 25, 2024, the Company no longer meets the continued listing requirement of Nasdaq under Nasdaq Listing Rules 5550(a)(2) (the “Rule”), to maintain a minimum bid price of
On October 24, 2024, the Company received written notice from the Listing Qualifications Staff of Nasdaq notifying the Company that, the Company has not regained compliance with the Rule and was not eligible for a second 180 day period.
The Company intends to request a hearing before the Panel. Such a request will stay any delisting action in connection with the notice and allow the continued listing of the Company’s Ordinary Shares on The Nasdaq Capital Market until the Panel renders a decision and any extension the panel grants. At the hearing, the Company intends to present a plan to regain compliance with the Rule and request that the Panel allow the Company additional time within which to regain compliance. While the Company believes that it will be able to present a viable plan to regain compliance, there can be no assurance that the Panel will grant the Company’s request for continued listing on The Nasdaq Capital Market, or that the Company’s plans to exercise diligent efforts to maintain the listing of its common stock on Nasdaq will be successful.
About SIMPPLE LTD.
Headquartered in Singapore, SIMPPLE LTD. is an advanced technology solution provider in the emerging PropTech space, focused on helping facilities owners and managers manage facilities autonomously. Founded in 2016, the Company has a strong foothold in the Singapore facilities management market, serving over 60 clients in both the public and private sectors and extending out of Singapore into Australia and the Middle East. The Company has developed its proprietary SIMPPLE Ecosystem, to create an automated workforce management tool for building maintenance, surveillance and cleaning comprised of a mix of software and hardware solutions such as robotics (both cleaning and security) and Internet-of-Things (“IoT”) devices. For more information, please visit the Company’s website: www.investor.simpple.ai.
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 “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “likely to” 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.
For investor and media inquiries, please contact:
SIMPPLE LTD.
Investor Relations Department
Email: ir@simpple.ai
FAQ
Why is SIMPPLE (SPPL) facing potential delisting from Nasdaq?
What is SIMPPLE's (SPPL) plan to address the Nasdaq delisting notice?
When did SIMPPLE (SPPL) receive the Nasdaq delisting notice?
