News summary

RAYA Electronicsgodsunchainedblockchain.US) Shares were warned for failing to meet Nasdaq's minimum bid price requirements and were given an additional 180 days to return to compliance, otherwise they faced the risk of delisting.

godsunchainedblockchain| RAYA Electronics (RAYA.US): Received a notice from Nasdaq that the stock price falls below US and needs to resume compliance within the deadline

Newsletter text

[Nasdaq Stock Market Qualification Department asks Reya Electronics to increase its share price] Reya Electronics (tickergodsunchainedblockchain:RAYAgodsunchainedblockchain.US) received on November 20, 2023godsunchainedblockchainA written notice from the NASDAQ Stock Market Listing Qualification Department stated that the company failed to comply with the minimum bid price requirements of the NASDAQ Capital Market NASDAQ Listing Rules. Under the rule, the par value of each listed security needs to remain at least $1.0. The company's closing bid price in the past 30 consecutive trading days failed to meet this standard, resulting in its failure to meet the minimum bid price requirement. Despite this, the company was granted a grace period of 180 calendar days until May 13, 2024 to restore compliance. Although it failed to restore compliance within the given time, Rea Electronics received a further notice from Nasdaq on May 14, 2023, indicating that the company was eligible to extend for an additional 180 calendar days, or until November 11, 2024, to restore compliance with Listing Rule 550 (a)(2). To achieve this goal, closing bids for the company's common stock must reach or exceed $1.00 per share for at least ten business days. It is worth noting that the notice did not immediately affect the listing status of Reia Electronics 'common shares on the Nasdaq Capital Market. However, if the company fails to return to compliance by November 11, 2024, Nasdaq will issue a delisting notice. In this case, Rea Electronics will have the right to appeal to the Nasdaq Listing Eligibility Panel and request a hearing. Rea Electronics plans to closely monitor the closing price of its common stock and is considering its feasible options to resolve the issue of non-compliance with minimum bid requirements. However, there is no guarantee that the company will be able to return to compliance with Nasdaq Capital Markets 'continuing listing requirements, nor can there be any guarantee that Nasdaq will further extend its time to return to compliance, if applicable.