Webuy Receives Extension to Regain Compliance with Nasdaq’s Minimum Bid Requirements
Webuy Global (Nasdaq: WBUY), a Southeast Asian community e-commerce retailer, has received a 180-day extension from Nasdaq to regain compliance with the minimum bid price requirement. The company now has until January 21, 2025 to meet the U.S. $1.00 per share minimum bid price for continued listing on the Nasdaq Capital Market.
To regain compliance, Webuy's shares must close at or above U.S. $1.00 for a minimum of ten consecutive business days. CEO Vincent Xue Bin expressed confidence in the company's growth and business fundamentals, hinting at upcoming initiatives that could positively impact financial results.
Webuy Global (Nasdaq: WBUY), un rivenditore e-commerce della comunità del sud-est asiatico, ha ricevuto un prolungamento di 180 giorni da Nasdaq per ripristinare la conformità con il requisito del prezzo minimo dell'offerta. L'azienda ha ora tempo fino al 21 gennaio 2025 per soddisfare il requisito di un prezzo minimo di U.S. $1,00 per azione per mantenere la quotazione sul Nasdaq Capital Market.
Per ripristinare la conformità, le azioni di Webuy devono chiudere a un prezzo pari o superiore a U.S. $1,00 per un minimo di dieci giorni lavorativi consecutivi. Il CEO Vincent Xue Bin ha espresso fiducia nella crescita dell'azienda e nei suoi fondamentali economici, accennando a iniziative future che potrebbero avere un impatto positivo sui risultati finanziari.
Webuy Global (Nasdaq: WBUY), un minorista de comercio electrónico comunitario del sudeste asiático, ha recibido una prórroga de 180 días de Nasdaq para recuperar la conformidad con el requisito del precio mínimo de oferta. La empresa ahora tiene hasta el 21 de enero de 2025 para cumplir con el precio mínimo de U.S. $1.00 por acción para mantener su cotización en el Nasdaq Capital Market.
Para recuperar la conformidad, las acciones de Webuy deben cerrar a un precio igual o superior a U.S. $1.00 durante un mínimo de diez días hábiles consecutivos. El CEO Vincent Xue Bin expresó confianza en el crecimiento de la empresa y en sus fundamentos comerciales, insinuando iniciativas futuras que podrían impactar positivamente los resultados financieros.
Webuy Global (Nasdaq: WBUY), 동남아시아의 커뮤니티 전자상거래 소매업체가 나스닥으로부터 180일 연장 승인을 받았습니다. 이로써 회사는 2025년 1월 21일까지 나스닥 자본 시장에서 계속 상장되기 위한 주당 최소 가격 U.S. $1.00을 충족해야 합니다.
규정을 충족하기 위해서는 Webuy의 주식이 최소 열 영업일 연속으로 U.S. $1.00 이상으로 마감되어야 합니다. CEO인 Vincent Xue Bin은 회사의 성장과 비즈니스 기반에 대한 신뢰를 표명하며, 재무 결과에 긍정적인 영향을 미칠 수 있는 향후 계획을 암시했습니다.
Webuy Global (Nasdaq: WBUY), un détaillant de commerce électronique communautaire d'Asie du Sud-Est, a reçu une extension de 180 jours de la Nasdaq pour regagner sa conformité avec l'exigence du prix minimum d'offre. L'entreprise a maintenant jusqu'au 21 janvier 2025 pour satisfaire à l'exigence d'un prix d'offre minimum de 1,00 $ US par action pour conserver son inscription sur le Nasdaq Capital Market.
Pour regagner cette conformité, les actions de Webuy doivent se fermer à un prix égal ou supérieur à 1,00 $ US pendant au moins dix jours de bourse consécutifs. Le PDG Vincent Xue Bin a exprimé sa confiance dans la croissance de l'entreprise et ses fondamentaux économiques, laissant entendre que des initiatives à venir pourraient avoir un impact positif sur les résultats financiers.
Webuy Global (Nasdaq: WBUY), ein E-Commerce-Händler aus der Gemeinschaft in Südostasien, hat von Nasdaq eine 180-tägige Verlängerung erhalten, um die Einhaltung der Anforderungen an den Mindestangebotspreis wiederherzustellen. Das Unternehmen hat nun bis zum 21. Januar 2025 Zeit, um den Mindestangebotspreis von U.S. $1,00 pro Aktie einzuhalten, um weiterhin im Nasdaq Capital Market gelistet zu sein.
Um die Einhaltung wiederherzustellen, müssen die Aktien von Webuy an mindestens zehn aufeinander folgenden Geschäftstagen bei oder über U.S. $1,00 schließen. CEO Vincent Xue Bin äußerte Vertrauen in das Wachstum des Unternehmens und die Geschäftszahlen und deutete auf bevorstehende Initiativen hin, die sich positiv auf die finanziellen Ergebnisse auswirken könnten.
- Received 180-day extension from Nasdaq to regain compliance
- CEO claims significant growth and strong business fundamentals
- Upcoming initiatives expected to positively impact financial results
- Failure to meet Nasdaq's minimum bid price requirement of U.S. $1.00
- Risk of potential delisting if compliance is not achieved by January 21, 2025
As a Financial Analyst, I find this news mildly concerning for Webuy Global The company's struggle to maintain the minimum bid price of
The additional 180-day period until January 21, 2025, gives Webuy some breathing room, but it's important to note that this is often a last-resort measure. Companies in this situation typically consider options like a reverse stock split, which while maintaining compliance, can be viewed negatively by the market.
CEO Vincent Xue Bin's statement about "significant growth" and "stronger than ever" business fundamentals seems at odds with the stock's performance. Investors should approach such claims with caution and look for concrete evidence in upcoming financial reports. The mention of "major initiatives" is vague and lacks specifics, which is not reassuring in this context.
Overall, while the extension prevents immediate delisting, it puts Webuy under significant pressure to improve its market position and investor confidence in a relatively short timeframe.
From a Market Research perspective, Webuy's situation reflects broader challenges in the Southeast Asian e-commerce sector. The company's struggle to maintain a
It's worth noting that Webuy's "community e-commerce" model, while innovative, may face scalability challenges or struggle to differentiate in a crowded market. The extension from Nasdaq could be seen as a double-edged sword: it provides time for improvement but also signals to competitors and customers that the company is in a vulnerable position.
The CEO's mention of "major initiatives" without specifics is a common tactic in such situations, but it rarely reassures sophisticated investors. What's needed is a clear, actionable strategy to address market positioning, customer acquisition costs and revenue growth.
Investors should closely monitor Webuy's upcoming announcements and financial reports, looking for concrete signs of market traction and improved unit economics. Without significant positive developments, the risk of delisting will continue to loom large, potentially impacting customer and partner relationships in their core Southeast Asian markets.
Singapore, July 26, 2024 (GLOBE NEWSWIRE) -- Webuy Global Ltd. (Nasdaq: WBUY) (“Webuy” or the “Company”), a Southeast Asian community e-commerce retailer, today announced that, following the receipt of a written notice from the Listing Qualifications Department of the Nasdaq Stock Market, LLC (“Nasdaq”) on January 26, 2024 regarding the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Rule”) for continued listing on the Nasdaq Capital Market, it received written notification from Nasdaq, providing an additional 180 calendar days, or until January 21, 2025, to regain compliance with the minimum bid price of U.S.
Under Nasdaq Listing Rule 5810(c)(3)(A), if at any time over this period the bid price of Webuy’s shares closes at U.S.
Vincent Xue Bin, Chief Executive Officer and Co-Founder of Webuy Global, stated, “We appreciate Nasdaq’s flexibility and support, and are committed to maintaining our listing. We continue to generate significant growth and our business fundamentals are stronger than ever. In addition, over the coming months, we look forward to unveiling a number of major initiatives underway that we expect will positively impact on our financial results. We remain laser-focused on driving value for shareholders and look forward to providing further updates.”
About Webuy Global Ltd
Webuy Global Ltd (Nasdaq: WBUY) is an innovative, technology-focused company with a goal of building the most trusted retail brand and advanced e-commerce platform in Southeast Asia, designed to leverage data in order to provide a community-driven experience for consumers. The Company's unique 'group buy' business model is set to revolutionize traditional shopping practices, by offering substantial cost savings to customers through an efficient purchasing model and community-centric approach. Akin to group purchases and bulk orders, this approach simplifies the process for customers, eliminating the need for individual bulk purchases. Furthermore, the Company’s business model streamlines the traditional supply chain by minimizing the involvement of intermediaries, thereby offering a more direct "farm-to-table" supply model. The Company’s vision is to enable the ten million families in Southeast Asia to live a healthier, higher-quality lifestyle. Additional information about the Company is available at http://webuy.global/
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, uncertainties and assumptions that are difficult to predict. These risks and uncertainties are described more fully in the section captioned "Risk Factors" in the Company’s registration statement on Form F-1 related to the public offering (SEC File No. File No. 333-271604) and annual report on Form 20-F. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.
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FAQ
What is the deadline for Webuy Global (WBUY) to regain compliance with Nasdaq's minimum bid price requirement?
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