Alset EHome International (NASDAQ:AEI) has been notified by the Nasdaq Stock Market that it is at risk of being delisted due to its stock price consistently trading below the minimum $1 threshold. The notice, received on Monday, April 15, 2024, states that for 30 consecutive business days prior to the notice, Alset's bid price did not meet the Nasdaq Capital Market's listing requirement.
The company now has a 180-day period, until October 12, 2024, to address the issue and raise its stock price above the $1 minimum for at least ten consecutive business days. If Alset EHome manages to achieve this, Nasdaq will confirm in writing that the company has regained compliance and the matter will be closed.
The current situation does not immediately affect the listing of Alset EHome's common stock on the Nasdaq Capital Market. Still, failure to meet the requirement by the compliance date will lead to a notification of potential delisting. The company would then have the opportunity to appeal the decision before a Nasdaq Hearings Panel.
In response to the notice, Alset EHome is considering various options to rectify the bid price deficiency and plans to actively monitor its stock price going forward. The information regarding the notice and the company's plans to regain compliance is based on a recent SEC filing.
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