Webuy Global Ltd. Receives Nasdaq Notification Regarding Non-Compliance with Minimum Bid Price Rule
Webuy Global (WBUY) has received a Staff Delisting Determination from Nasdaq due to non-compliance with the Minimum Bid Price Rule, which requires maintaining a share price of at least $1.00. The company failed to meet this requirement during both the initial 180-day period ending July 25, 2024, and the extension period ending January 21, 2025.
Trading of WBUY's Class A ordinary shares will be suspended on January 29, 2025. The company plans to appeal by requesting a hearing before a Nasdaq Hearings Panel, which typically occurs 30-45 days after filing. Meanwhile, shares are expected to trade on OTC markets pending the Panel's decision.
Webuy Global (WBUY) ha ricevuto una Determinazione di Delisting dal Nasdaq a causa della non conformità con la Regola del Prezzo Minimo di Offerta, che richiede di mantenere un prezzo per azione di almeno $1,00. L'azienda non è riuscita a soddisfare questo requisito sia durante il periodo iniziale di 180 giorni che si è concluso il 25 luglio 2024, sia nel periodo di estensione che termina il 21 gennaio 2025.
Le contrattazioni delle azioni ordinarie di Classe A di WBUY saranno sospese il 29 gennaio 2025. L'azienda intende fare appello richiedendo un'udienza davanti a un Panel di Udienze del Nasdaq, che di solito avviene 30-45 giorni dopo la presentazione. Nel frattempo, ci si aspetta che le azioni vengano scambiate nei mercati OTC in attesa della decisione del Panel.
Webuy Global (WBUY) ha recibido una Determinación de Exclusión por parte de Nasdaq debido a su incumplimiento con la Regla del Precio Mínimo de Oferta, que requiere mantener un precio de acción de al menos $1.00. La compañía no cumplió con este requisito durante el periodo inicial de 180 días que finaliza el 25 de julio de 2024 y el periodo de extensión que concluye el 21 de enero de 2025.
La negociación de las acciones ordinarias de Clase A de WBUY se suspenderá el 29 de enero de 2025. La compañía planea apelar solicitando una audiencia ante un Panel de Audiencias de Nasdaq, que generalmente ocurre 30-45 días después de la presentación. Mientras tanto, se espera que las acciones se negocien en los mercados OTC a la espera de la decisión del Panel.
Webuy Global (WBUY)는 최소 입찰가 규정을 준수하지 않아 Nasdaq에서 상장 폐지 결정 통지를 받았습니다. 이 규정은 주가를 최소 $1.00 이상으로 유지할 것을 요구합니다. 회사는 2024년 7월 25일 종료되는 최초의 180일 기간과 2025년 1월 21일 종료되는 연장 기간 동안 이 요건을 충족하지 못했습니다.
WBUY의 클래스 A 보통주 거래는 2025년 1월 29일에 중단됩니다. 회사는 Nasdaq 청문회 패널 앞에서 청문회를 요청하여 항소할 계획이며, 이는 일반적으로 제출 후 30-45일 이내에 이루어집니다. 한편, 패널의 결정이 나올 때까지 주식은 OTC 시장에서 거래될 것으로 예상됩니다.
Webuy Global (WBUY) a reçu une Décision de Radiation de la part du Nasdaq en raison du non-respect de la Règle du Prix Minimum de Soumission, qui exige le maintien d'un prix d'action d'au moins 1,00 $. L'entreprise n'a pas été en mesure de respecter cette exigence pendant à la fois la période initiale de 180 jours se terminant le 25 juillet 2024 et la période d'extension se terminant le 21 janvier 2025.
La négociation des actions ordinaires de Classe A de WBUY sera suspendue le 29 janvier 2025. L'entreprise prévoit de faire appel en demandant une audience devant un Panel d'Audiences Nasdaq, ce qui se produit généralement 30 à 45 jours après le dépôt. En attendant, il est prévu que les actions se négocient sur les marchés OTC en attendant la décision du Panel.
Webuy Global (WBUY) hat eine Entscheidung zur Streichung von Nasdaq erhalten, da sie die Regel zum Mindestgebotspreis nicht eingehalten haben, die einen Aktienpreis von mindestens $1,00 verlangt. Das Unternehmen konnte diese Anforderung während des ursprünglichen 180-tägigen Zeitraums, der am 25. Juli 2024 endet, sowie während des Verlängerungszeitraums, der am 21. Januar 2025 endet, nicht erfüllen.
Der Handel mit den A-Klasse Stammaktien von WBUY wird am 29. Januar 2025 ausgesetzt. Das Unternehmen plant, durch die Beantragung eines Anhörung vor einem Nasdaq-Hearing Panel Berufung einzulegen, was in der Regel 30-45 Tage nach der Einreichung erfolgt. In der Zwischenzeit wird erwartet, dass die Aktien auf den OTC-Märkten gehandelt werden, während auf die Entscheidung des Panels gewartet wird.
- None.
- Received Nasdaq delisting notice due to share price below $1.00
- Trading suspension effective January 29, 2025
- Failed to comply during both initial and extended compliance periods
- Forced transition to OTC markets pending appeal
Insights
The Nasdaq delisting notification for Webuy Global represents a critical development with substantial implications for investors. The company's failure to maintain the
Trading migration to OTC markets typically results in:
- Significantly reduced trading volume and liquidity
- institutional investor participation due to investment mandate restrictions
- Increased difficulty in raising capital through equity markets
- Higher volatility and wider bid-ask spreads
- Decreased analyst coverage and market visibility
While the company has announced its intention to appeal, historical precedent suggests that without a concrete plan for price improvement - typically through a reverse stock split or significant operational turnaround - the chances of a successful appeal are Companies in similar situations have historically seen success rates below
For current shareholders, this development presents immediate concerns about value preservation. OTC-traded stocks typically experience a substantial decline in trading volume, often
The company's statement about remaining committed to business operations, while standard in such announcements, lacks specific details about strategic initiatives or plans to address the underlying issues that led to the price decline. This uncertainty adds another layer of risk for stakeholders during this critical transition period.
Singapore, Jan. 28, 2025 (GLOBE NEWSWIRE) -- Webuy Global Ltd. (Nasdaq: WBUY) (the “Company”), today announced that it received a letter on January 22, 2025, from the Listing Qualifications Department of the Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company has not regained compliance with Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Rule”), which requires listed securities to maintain a minimum bid price of
The Minimum Bid Price Rule requires listed securities to achieve a closing bid price of at least
The Company will be appealing Nasdaq's determination by requesting a hearing before a Nasdaq Hearings Panel (the “Panel”) pursuant to the procedures set forth in the Nasdaq Listing Rule 5800 Series. A request for the hearing must be submitted by no later than 4:00 p.m. Eastern Time on January 29, 2025. Hearings are typically scheduled to occur approximately 30-45 days after the hearing request is filed.
After the suspension, the Company’s Class A ordinary shares are expected to trade on OTC pending the Panel’s decision after the hearing to reinstate its listing on Nasdaq. The Company will use all reasonable efforts to regain compliance with the Minimum Bid Price Rule, but there can be no assurance that it will successfully do so or that it will remain in compliance with other Nasdaq listing criteria.
The Company remains committed to its business operations and strategic initiatives as it works toward resolving this matter.
About Webuy Global Ltd.
Webuy Global Ltd. is a forward-thinking, technology-driven company aimed at becoming the leading e-commerce and travel platform in Southeast Asia. Leveraging advanced AI technologies, the Company enhances its 'group buy' model by providing personalized recommendations, predictive demand analytics, and seamless community interactions. In addition, Webuy integrates AI-powered travel solutions, such as its proprietary AI Travel Consultant, to deliver personalized itineraries, group travel planning, and real-time support. These innovations streamline the traditional supply chain, foster a community-driven shopping experience, and simplify travel planning for its users. Webuy is committed to improving the lives of millions of families in Southeast Asia with high-quality, affordable products, services, and travel experiences. For more information, visit https://www.webuysg.com/Investor/
Forward-Looking Statements
This press release contains forward-looking statements regarding the Company’s current expectations. These statements are not guarantees of future performance and are subject to certain risks and uncertainties described more fully in the Company’s filings with the SEC. Forward-looking statements are made as of this date, and the Company undertakes no duty to update them, except as required by law.
FAQ
Why is WBUY being delisted from Nasdaq?
When will WBUY stock be suspended from Nasdaq trading?
What happens to WBUY shares after Nasdaq suspension?
Can WBUY appeal the Nasdaq delisting decision?
How long did WBUY have to comply with Nasdaq's minimum bid price rule?
