MultiMetaVerse Holdings Limited Receives Nasdaq Notification Regarding Minimum Bid Price and Minimum Market Value of Listed Securities

Quick Summary:

SHANGHAI, Oct.18, 2024 (GLOBE NEWSWIRE) -- MultiMetaVerse Holdings Limited (the "Company”) received a letter from The Nasdaq Stock Market LLC ("Nasdaq”) stating that the Company was not in compliance with the minimum bid price of $1.00 per share requirement under Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Rule”) and the minimum market value of listed securities of $35 million requirement under Nasdaq Listing Rule 5550(b)(2) (the "MVLS Rule”), and had failed to regain compliance with the Bid Price Rule and the MVLS Rule during the extension period which ended on October 14, 2024.

If the Company does not request a hearing before the Panel by that date, trading in its Class A ordinary shares and warrants will be suspended at the opening of business on October 24, 2024 and a Form 25-NSE will be filed with the Securities and Exchange Commission ("SEC”) removing the securities from listing and registration on Nasdaq.

About MultiMetaVerse Holdings Limited MultiMetaVerse Holdings Limited (NASDAQ: MMV) is an animation and entertainment company dedicated to providing a high-quality, immersive entertainment experience through original, user-generated, and professional user-generated content.

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Article Details

Author / Journalist: MultiMetaVerse Holdings Limited

Category: Technology

Markets: China

Topics: Nasdaq:MMV VGG6360J1021

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-18 @ 20:30:00 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: globenewswire.com

Language: English

Article Length: 300 words

Reading Time: 2 minutes read

Sentences: 8 lines

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Copyright Owner: © GlobeNewswire

News ID: 23122102

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