Mingzhu Receives Nasdaq Delisting Notice Subject to Hearing Request
MingZhu Logistics Holdings (Nasdaq: YGMZ) announced on February 14, 2025, that it received a delisting notice from Nasdaq due to non-compliance with the minimum bid price requirement. The company's shares have traded below $1 for 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2).
Unlike typical cases where companies receive a 180-day compliance period, MingZhu is ineligible for this grace period because it already implemented a reverse stock split on July 1, 2024. The company has until February 20, 2025, to appeal the delisting determination to a hearing panel, which would temporarily stay the suspension of its securities. MingZhu intends to request such hearing and is exploring options to regain compliance, including considering another reverse stock split subject to shareholder approval.
MingZhu Logistics Holdings (Nasdaq: YGMZ) ha annunciato il 14 febbraio 2025 di aver ricevuto un avviso di delisting da Nasdaq a causa della non conformità ai requisiti di prezzo minimo di offerta. Le azioni della società sono state scambiate a meno di 1$ per 30 giorni lavorativi consecutivi, violando la Regola di Quotazione Nasdaq 5550(a)(2).
A differenza dei casi tipici in cui le aziende ricevono un periodo di conformità di 180 giorni, MingZhu non ha diritto a questo periodo di grazia poiché ha già attuato uno split azionario inverso il 1° luglio 2024. L'azienda ha tempo fino al 20 febbraio 2025 per presentare ricorso contro la decisione di delisting a un pannello di udienza, il quale sospenderebbe temporaneamente la sospensione dei suoi titoli. MingZhu intende richiedere tale udienza ed esplora opzioni per ripristinare la conformità, compresa la valutazione di un ulteriore split azionario inverso soggetto all'approvazione degli azionisti.
MingZhu Logistics Holdings (Nasdaq: YGMZ) anunció el 14 de febrero de 2025 que recibió un aviso de deslistado de Nasdaq debido a la falta de cumplimiento con el requisito de precio mínimo de oferta. Las acciones de la compañía han cotizado por debajo de 1$ durante 30 días hábiles consecutivos, lo que viola la Regla de Cotización 5550(a)(2) de Nasdaq.
A diferencia de los casos típicos en los que las empresas reciben un período de cumplimiento de 180 días, MingZhu no es elegible para este período de gracia porque ya implementó un split de acciones inverso el 1 de julio de 2024. La compañía tiene hasta el 20 de febrero de 2025 para apelar la decisión de deslistado ante un panel de audiencias, que suspendería temporalmente la suspensión de sus valores. MingZhu tiene la intención de solicitar dicha audiencia y está explorando opciones para recuperar la conformidad, incluida la consideración de otro split de acciones inverso sujeto a la aprobación de los accionistas.
밍주 물류 홀딩스 (Nasdaq: YGMZ)는 2025년 2월 14일, 최소 입찰 가격 요건을 준수하지 않아 나스닥으로부터 상장 폐지 통지를 받았다고 발표했습니다. 회사의 주가는 30영업일 연속 1달러 이하로 거래되어 나스닥 상장 규칙 5550(a)(2)를 위반했습니다.
회사들이 180일의 준수 기간을 받는 전형적인 경우와 달리, 밍주는 2024년 7월 1일에 주식 분할을 이미 시행했기 때문에 이 유예 기간에 해당되지 않습니다. 회사는 2025년 2월 20일까지 상장 폐지 결정을 청문회 패널에 항소할 수 있으며, 이는 증권의 일시적 정지를 연기할 수 있습니다. 밍주는 이러한 청문회를 요청할 예정이며, 주주 승인을 조건으로 또 다른 역분할을 고려하는 등 준수 회복을 위한 옵션을 모색하고 있습니다.
MingZhu Logistics Holdings (Nasdaq: YGMZ) a annoncé le 14 février 2025 avoir reçu un avis de radiation de Nasdaq en raison de son non-respect de l'exigence de prix d'offre minimum. Les actions de la société ont été échangées en dessous de 1$ pendant 30 jours de bourse consécutifs, enfreignant la Règle d'inscription Nasdaq 5550(a)(2).
Contrairement aux cas typiques où les entreprises reçoivent une période de conformité de 180 jours, MingZhu n'est pas éligible pour cette période de grâce car elle a déjà réalisé une division d'actions inversée le 1er juillet 2024. L'entreprise a jusqu'au 20 février 2025 pour faire appel de la décision de radiation auprès d'un panel d'audience, ce qui suspendrait temporairement la suspension de ses titres. MingZhu a l'intention de demander une telle audience et explore des options pour retrouver la conformité, y compris la possibilité d'une nouvelle division d'actions inversée soumise à l'approbation des actionnaires.
MingZhu Logistics Holdings (Nasdaq: YGMZ) gab am 14. Februar 2025 bekannt, dass es eine Delisting-Mitteilung von Nasdaq erhalten hat, da es die Mindestgebotsanforderung nicht erfüllt hat. Die Aktien des Unternehmens wurden 30 aufeinanderfolgende Handelstage unter 1$ gehandelt, was gegen die Nasdaq-Listing-Regel 5550(a)(2) verstößt.
Im Gegensatz zu typischen Fällen, in denen Unternehmen eine 180-tägige Frist zur Einhaltung erhalten, ist MingZhu für diesen Grace-Period nicht berechtigt, da es bereits am 1. Juli 2024 einen Reverse Stock Split durchgeführt hat. Das Unternehmen hat bis zum 20. Februar 2025 Zeit, um die Delisting-Entscheidung bei einem Anhörungsausschuss anzufechten, was die Aussetzung seiner Wertpapiere vorübergehend aufschieben würde. MingZhu beabsichtigt, ein solches Hearing zu beantragen und prüft Optionen zur Wiederherstellung der Compliance, einschließlich der Überlegung eines weiteren Reverse Stock Splits, der der Zustimmung der Aktionäre unterliegt.
- Company still has the opportunity to appeal the delisting determination
- Securities will continue trading on Nasdaq during the appeal process
- Received delisting notice from Nasdaq
- Stock trading below $1 for 30 consecutive business days
- Previous reverse stock split in July 2024 failed to maintain compliance
- Potential additional reverse stock split may lead to further share dilution
Insights
The delisting notice from Nasdaq represents a severe setback for MingZhu Logistics, particularly concerning given their July 2024 reverse stock split failed to sustainably maintain the required minimum bid price. This situation is notably more critical than a standard delisting warning, as the company is ineligible for the usual 180-day compliance period due to the recent reverse split.
The market's reaction to the previous reverse split has been decisively negative, with the stock price falling below
The upcoming appeal process, while providing temporary relief through continued listing during the hearing period, presents significant risks. Historical patterns show that companies facing delisting after a failed reverse split have success in maintaining their listing long-term without substantial operational improvements. For existing shareholders, this situation presents heightened liquidity risks, as a potential delisting could result in the stock moving to over-the-counter markets, typically characterized by reduced trading volume and wider bid-ask spreads.
The Company has until February 20, 2025 to request an appeal of the Delisting Determination to the hearing panel. The Company intends to request such hearing to appeal the Delisting Determination before that date, which will stay the suspension of its securities from the date of the request, during which time such securities will continue to be listed on The Nasdaq Capital Market.
The Company is considering all potential options available to it to regain compliance with the aforementioned rules, including seeking shareholders' approval for a reverse stock split.
About MingZhu Logistics Holdings Limited (Nasdaq: YGMZ)
Established in 2002 and headquartered in
Forward-Looking Statements
The statements in this press release regarding the Company's future expectations, plans and prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding plans, goals, objectives, strategies, future events, expected performance, assumptions and any other statements of fact that have not occurred. Any statements that contain the words "may", "will", "want", "should", "believe", "expect", "anticipate", "estimate", "calculate" or similar statements that are not factual in nature are to be considered forward-looking statements. Actual results may differ materially from historical results or from those expressed in these forward-looking statements as a result of a variety of factors. These factors include, but are not limited to, the Company's strategic objectives, the Company's future plans, market demand and user acceptance of the Company's products or services, technological advances, economic trends, the growth of the trucking services market in China, the Company's reputation and brand, the impact of industry competition and bidding, relevant policies and regulations, fluctuations in China's macroeconomic conditions, and the risks and assumptions disclosed in the Company's reports provided to the CSRC (China Security Regulatory Commission). For these and other related reasons, we advise investors not to place any reliance on these forward-looking statements, and we urge investors to review the Company's relevant SEC filings for additional factors that may affect the Company's future results of operations. The Company undertakes no obligation to publicly revise these forward-looking statements subsequent to the filing of these documents as a result of changes in particular events or circumstances.
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SOURCE MingZhu Logistics Holdings Limited
FAQ
Why did YGMZ receive a delisting notice from Nasdaq in February 2025?
What is the deadline for YGMZ to appeal the Nasdaq delisting determination?
Will YGMZ stock continue trading on Nasdaq after receiving the delisting notice?
What options is YGMZ considering to maintain Nasdaq listing?
Why wasn't YGMZ given the standard 180-day compliance period?
