HONG KONG - Lion Group Holding Ltd. (NASDAQ:LGHL), a diversified trading platform operator, has been notified by the Nasdaq Stock Market LLC of its non-compliance with a key listing rule. The notification, received on April 18, 2024, pertains to the company's failure to maintain a minimum bid price of $1.00 for its ordinary shares over a period of 30 consecutive business days, starting from March 5, 2024.
In response to the delinquency notice regarding Nasdaq Listing Rule 5550(a)(2), Lion Group is actively seeking to address the issue and regain compliance. The company has a 180-day period to meet Nasdaq's requirements.
Lion Group operates a comprehensive trading platform that provides services such as total return service trading, contract-for-difference trading, over-the-counter stock options trading in Hong Kong, and futures and securities brokerage. The company also boasts a specialized SPAC sponsorship team, positioning itself as a potential leader in guiding private companies through public listings.
The press release from Lion Group contains forward-looking statements, which are based on current expectations and projections about future events. Investors are cautioned that such statements are subject to risks and uncertainties and that actual results may differ materially from those projected.
Further details on the company's financial status and operations can be found in its Report on Form 6-K filed with the Securities and Exchange Commission on April 19, 2023. Lion Group's filings are publicly available on the SEC's website.
This news article is based on a press release statement from Lion Group Holding Ltd. and does not contain any promotional language or endorsement of the company's claims. It provides a factual report on the company's current regulatory compliance status with the Nasdaq Stock Market.
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