Garden Stage Limited Receives Delinquency Notification Letter from Nasdaq
Hong Kong, Dec. 30, 2024 (GLOBE NEWSWIRE) — Garden Stage Limited (NASDAQ: GSIW) (“GSIW” or the “Company”), today announced that it received a delinquency notification letter (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) on December 24, 2024 indicating that the Company is not currently in compliance with the minimum bid price requirement set forth in Nasdaq’s Listing Rules for continued listing on the Nasdaq Capital Market, as the closing bid price for the Company’s ordinary shares listed on the Nasdaq Capital Market was below $1.00 per share for 30 consecutive business days. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of $1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. The Notice provides that the Company has a period of 180 calendar days from the date of the Notice, or until June 23, 2025, to regain compliance with the minimum bid price requirement.
Effects on Shareholders
If Garden Stage Limited fails to regain compliance with the minimum bid price requirement within the specified timeframe, it may face delisting from the Nasdaq Capital Market. This potential delisting could negatively impact the Company’s shareholders, as it may lead to decreased liquidity and a loss of investor confidence. Shareholders may also face difficulties in selling their shares if the Company is delisted from Nasdaq.
Effects on the World
The delinquency notification letter received by Garden Stage Limited from Nasdaq serves as a reminder of the challenges faced by companies in maintaining compliance with stock exchange listing requirements. The Company’s situation highlights the importance of financial stability and market competitiveness in the global economy. If Garden Stage Limited is unable to regain compliance with the minimum bid price requirement, it could signal potential financial difficulties for the Company and may have broader implications for the stock market as a whole.
Conclusion
In conclusion, Garden Stage Limited’s receipt of a delinquency notification letter from Nasdaq underscores the significance of meeting listing requirements for publicly traded companies. Shareholders should closely monitor the Company’s efforts to regain compliance with the minimum bid price requirement, as the outcome could have significant implications for their investments. Additionally, the incident serves as a reminder of the importance of financial stability and market competitiveness in the global economy.
