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Nisun International Enterprise Development Group Co., Ltd (NASDAQ:NISN) ("Nisun" or the "Company") announced today that it has received a Staff determination letter (the "Letter") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("NASDAQ") dated May 26, 2023 notifying the Company of the Staff's determination to delist the Company's securities from The Nasdaq Capital Market because the Company had failed to satisfy the requirement that the closing bid price of its securities remain at $1.00 or higher as required by Nasdaq Listing Rule 5550(a)(2).
Pursuant to the Letter, unless the Company requests an appeal of the Letter, trading of the Company's Class A Common Shares will be suspended at the opening of business on June 6, 2023, and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove the Company's securities from listing and registration on the Nasdaq Stock Market.
On June 1, 2023, the Company received notification from NASDAQ confirming the Company has regained compliance with NASDAQ's minimum bid price requirement under Listing Rule 5550(a)(2). NASDAQ noted this matter is now closed.
Posted In: NISN
