Treasure Global (NASDAQ:TGL) Receives Notice from Nasdaq Regarding Non-Compliance with Minimum Bid Price Rule

Treasure Global Inc (NASDAQ:TGL) has recently disclosed in a Form 8-K filing with the Securities and Exchange Commission (SEC) that it received a written notice from the Listing Qualifications Staff of The Nasdaq Stock Market LLC. The notice highlighted that for the period between October 8, 2024, and November 19, 2024, the common stock of Treasure Global did not meet the minimum closing bid price of $1.00 per share required for continued listing on The Nasdaq Capital Market under the Nasdaq Listing Rule 5550(a)(2).

Following the non-compliance, Nasdaq has granted Treasure Global an initial compliance period of 180 calendar days, expiring on May 19, 2025, to rectify the bid price deficiency. During this time, the closing bid price of Treasure Global’s common stock needs to meet or exceed $1.00 per share for a minimum of 10 consecutive trading days. Failure to regain compliance by the specified date could potentially lead to the company being delisted from The Nasdaq Capital Market.

In the event that compliance is not achieved by the end of the initial 180-day period, Treasure Global may be eligible for an additional 180-day period to regain compliance, subject to meeting certain listing requirements. The company would need to provide written notice of its intent to address the bid price deficiency, possibly through actions such as a reverse stock split if deemed necessary.

While the notice from Nasdaq does not immediately affect the listing status of Treasure Global’s common stock, the company is evaluating its options to regain compliance. However, there is no guarantee that Treasure Global will be able to meet the Bid Price Rule or other Nasdaq listing requirements.

Investors and stakeholders are advised to monitor future developments closely as Treasure Global navigates the path to compliance with Nasdaq regulations and potential delisting scenarios. The company may consider various strategies to address the bid price deficiency and sustain its listing on The Nasdaq Capital Market.

This press release is not exhaustive and only provides an overview of the essential details disclosed in the recent Form 8-K filing by Treasure Global Inc. Interested parties are encouraged to refer to the original SEC filing for complete information on the matter.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Treasure Global’s 8K filing here.

About Treasure Global

Treasure Global Inc offers e-commerce activities through its platform. Its platform provides consumers and merchants instant rebates and affiliate cashback programs, while providing a seamless e-payment solution with rebates in both e-commerce and physical retailers/merchant settings. The company offers ZCITY App, a payment gateway platform.