Q&K Receives NASDAQ Notification Regarding Minimum Market Value Of Publicly Held Shares Deficiency

Author: Bill Haddad | May 11, 2022 08:31am

SHANGHAI, China, May 11, 2022 (GLOBE NEWSWIRE) -- Q&K International Group Limited (NASDAQ:QK) (“Q&K” or the “Company”), a leading technology-driven long-term apartment rental platform in China, announced today that it has received a written notification (the "Notification Letter") from the Nasdaq Stock Market LLC (“Nasdaq”) dated May 9, 2022 indicating that the Company is not in compliance with the minimum Market Value of Publicly Held Shares (“MVPHS”) set forth in the Nasdaq Rules for continued listing on the Nasdaq Global Market. Nasdaq Listing Rule 5450(b)(3)(C) requires companies to maintain a minimum MVPHS of US$15 million, and Listing Rule 5810(c)(3)(D) provides that a failure to meet the MVPHS requirement exists if the deficiency continues for a period of 30 consecutive business days. Based on the MVPHS of the Company for the 30 consecutive business days from March 25, 2022 to May 6, 2022, the Company no longer meets the MVPHS minimum requirement. This notification does not impact the listing and trading of the Company’s securities at this time.

Posted In: QK