Santech Holdings Limited Announces 180-Day Extension to Regain Compliance with Nasdaq Minimum Bid Requirement
Santech Holdings (NASDAQ: STEC) has received a 180-day extension from Nasdaq to regain compliance with the minimum bid price requirement. The extension, granted until May 26, 2025, follows the company's transfer from Nasdaq Global Market to Nasdaq Capital Market, effective December 5, 2024.
The extension was granted based on Santech meeting market value requirements, expressing intention to implement a reverse stock split if necessary, and agreeing to Nasdaq Listing Agreement conditions. To regain compliance, the company's closing bid price must meet or exceed $1.00 per ADS for at least ten consecutive business days.
Santech Holdings (NASDAQ: STEC) ha ricevuto un'estensione di 180 giorni da parte di Nasdaq per ripristinare la conformità con il requisito del prezzo minimo di offerta. L'estensione, concessa fino al 26 maggio 2025, segue il trasferimento della società dal Nasdaq Global Market al Nasdaq Capital Market, che diventerà effettivo il 5 dicembre 2024.
L'estensione è stata concessa in base al fatto che Santech ha soddisfatto i requisiti di valore di mercato, ha espresso l'intenzione di implementare un frazionamento delle azioni se necessario e ha accettato le condizioni del Nasdaq Listing Agreement. Per ripristinare la conformità, il prezzo di chiusura dell'azione deve essere pari o superiore a $1,00 per ADS per almeno dieci giorni lavorativi consecutivi.
Santech Holdings (NASDAQ: STEC) ha recibido una extensión de 180 días por parte de Nasdaq para recuperar el cumplimiento con el requisito de precio mínimo de oferta. La extensión, concedida hasta el 26 de mayo de 2025, sigue al traspaso de la compañía del Nasdaq Global Market al Nasdaq Capital Market, que será efectivo el 5 de diciembre de 2024.
La extensión se otorgó porque Santech cumplió con los requisitos de valor de mercado, expresó su intención de implementar un split inverso de acciones si es necesario y aceptó las condiciones del Nasdaq Listing Agreement. Para recuperar la conformidad, el precio de oferta de cierre de la compañía debe ser igual o superior a $1.00 por ADS durante al menos diez días hábiles consecutivos.
Santech Holdings (NASDAQ: STEC)는 최소 입찰 가격 요건을 준수하기 위해 Nasdaq으로부터 180일 연장을 받았습니다. 이 연장은 2025년 5월 26일까지 유효하며, 2024년 12월 5일부로 Nasdaq Global Market에서 Nasdaq Capital Market으로의 전환 후에 이뤄졌습니다.
연장은 Santech가 시장 가치 요건을 충족하고, 필요한 경우 주식 분할을 시행할 의사를 표현하며, Nasdaq 상장 계약 조건에 동의한 것을 기준으로 승인되었습니다. 준수를 회복하기 위해, 회사의 종가 입찰가는 연속 열흘간 최소 $1.00 ADS 이상이어야 합니다.
Santech Holdings (NASDAQ: STEC) a reçu une extension de 180 jours de la part de Nasdaq pour retrouver la conformité avec l'exigence de prix de soumission minimum. L'extension, accordée jusqu'au 26 mai 2025, fait suite au transfert de la société du Nasdaq Global Market au Nasdaq Capital Market, qui entrera en vigueur le 5 décembre 2024.
L'extension a été accordée sur la base du respect par Santech des exigences de valeur marchande, de l'expression de son intention de procéder à un fractionnement d'actions inversé si nécessaire, et de l'accord sur les conditions du Nasdaq Listing Agreement. Pour retrouver la conformité, le prix de clôture des offres de la société doit atteindre ou dépasser 1,00 $ par ADS pendant au moins dix jours ouvrables consécutifs.
Santech Holdings (NASDAQ: STEC) hat von Nasdaq eine Verlängerung von 180 Tagen erhalten, um die Einhaltung der Mindestangebote preisvorgabe wiederherzustellen. Die Verlängerung, die bis zum 26. Mai 2025 gilt, folgt auf die Übertragung des Unternehmens vom Nasdaq Global Market zum Nasdaq Capital Market, die am 5. Dezember 2024 in Kraft tritt.
Die Verlängerung wurde gewährt, weil Santech die Anforderungen an den Marktwert erfüllt hat, die Absicht geäußert hat, gegebenenfalls einen Aktiensplit durchzuführen, und den Bedingungen des Nasdaq Listing Agreements zugestimmt hat. Um die Einhaltung wiederherzustellen, muss der Schlusskurs des Unternehmens für mindestens zehn aufeinanderfolgende Handelstage mindestens $1,00 pro ADS betragen.
- Company remains listed on Nasdaq through transfer to Capital Market
- Received additional 180 days to meet compliance requirements
- Maintains eligibility by meeting market value requirements for publicly held shares
- Failed to maintain minimum bid price requirement on Nasdaq Global Market
- May need to implement reverse stock split to maintain listing
- Risk of potential delisting if compliance is not achieved by May 2025
Insights
This delisting warning extension signals significant challenges for Santech Holdings. The company's transfer from Nasdaq Global Market to Nasdaq Capital Market represents a downgrade in listing tier, typically indicating deteriorating market performance. The extended deadline until May 26, 2025, while providing breathing room, underscores the urgency to address the sub-dollar share price.
The company's mention of a potential reverse stock split as a compliance strategy could be concerning for investors. While reverse splits technically increase share price, they often reflect underlying business struggles and can lead to further price deterioration post-split. With a small market cap of
HONG KONG, Dec. 05, 2024 (GLOBE NEWSWIRE) -- Santech Holdings Limited (NASDAQ: STEC) (“Santech” or the “Company”) announced today that it has received an extension of the period to regain compliance with The Nasdaq Stock Market Inc.’s (the "Nasdaq") the minimum bid price requirement (the “Minimum Bid Price Requirement”).
On December 4, 2024, the Company received a letter from the staff of the Listing Qualifications Department of Nasdaq notifying the Company that, while the Company has not regained compliance with the Minimum Bid Price Requirement, Nasdaq has determined that the Company is eligible for an additional 180 calendar day period, or until May 26, 2025, (the "Second Compliance Period") to regain compliance. Nasdaq's determination was in part based on (i) the Company meeting the applicable market value of publicly held shares requirement for continued listing and all other applicable requirements for initial listing on the Capital Market (except for the Minimum Bid Price Requirement), (ii) the Company’s written notice of its intention to cure the Minimum Bid Price Requirement by effecting a reverse stock split, if necessary, (iii) the Company’s agreement to the conditions outlined in the Nasdaq Listing Agreement, and (iv) additional supporting information provided in the Company’s application to transfer the listing of its ordinary shares from the Nasdaq Global Market to the Nasdaq Capital Market (the “Application”). The Company submitted the Application in order to be provided with a Second Compliance Period. This transfer to the Nasdaq Capital Market was approved and became effective as of December 5, 2024.
If at any time during the Second Compliance Period, the closing bid price of the Company’s ordinary shares meet or exceed US
The Company intends to continue to actively monitor its compliance with the Minimum Bid Price Requirement and, as appropriate, will consider available options to resolve any deficiencies and regain compliance, including the implementation of a reverse share split and ADS ratio change, if necessary.
About Santech Holdings Limited
Santech Holdings Limited (NASDAQ: STEC) is a consumer-focused technology company. The Company historically served a large number of high net-worth clients in China in financial services and health management, and accumulated a large customer base. The Company has exited or disposed of its historical businesses in financial services and is actively exploring innovative new opportunities in technology, including but not limited to new retail, social e-commerce and metaverse. For more information, please visit https://ir.santechholdings.com.
Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “anticipate,” “estimate,” “forecast,” “plan,” “project,” “potential,” “continue,” “ongoing,” “expect,” “aim,” “believe,” “intend,” “may,” “should,” “will,” “is/are likely to,” “could” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Investor Contact:
Santech Holdings Limited
Email: ir@santechholdings.com
Media Contact:
ICR, LLC
Edmond Lococo
Phone: +86 138-1079-1408
Email: SantechPR@icrinc.com
FAQ
What is the deadline for Santech Holdings (STEC) to regain Nasdaq compliance?
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