Future FinTech Group Inc. Granted Extension by NASDAQ to Regain Compliance with Minimum Bid Price Requirement

On November 12, 2024, Future FinTech Group Inc. (NASDAQ:FTFT) announced that it had received a written notification from the NASDAQ Stock Market Listing Qualifications Staff granting the company an additional 180-day period, until May 12, 2025, to regain compliance with the $1.00 minimum closing bid price requirement for continued listing on the NASDAQ Capital Market.

NASDAQ’s decision to grant this extension was based on Future FinTech Group Inc. meeting the continued listing requirement for the market value of publicly held shares and all other applicable requirements for initial listing on the NASDAQ Capital Market, except for the bid price requirement. The company has informed NASDAQ of its intention to cure the deficiency during this second compliance period by potentially effecting a reverse stock split.

If, at any time during this extended timeframe, the closing bid price of Future FinTech Group’s securities reaches or exceeds $1.00 per share for a minimum of 10 consecutive business days, NASDAQ will confirm compliance in writing, and the matter will be considered closed. However, failure to demonstrate compliance by May 12, 2025, will result in written notice from the Staff that the company’s securities are subject to delisting. Future FinTech Group Inc. will have the option to appeal this determination to a Hearings Panel of NASDAQ.

The company stated that it will closely monitor the closing bid price of its common stock shares and explore various options to regain compliance before the specified deadline of May 12, 2025.

This announcement indicates Future FinTech Group Inc.’s commitment to addressing the bid price requirement and its proactive approach to ensuring compliance with NASDAQ regulations within the provided timeframe.

No further details regarding the company’s specific strategies for regaining compliance were disclosed in the filing.

This news regarding the extension provided by NASDAQ to Future FinTech Group Inc. will be of interest to investors and stakeholders following the company’s listing compliance status.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Future FinTech Group’s 8K filing here.

About Future FinTech Group

Future FinTech Group Inc, through its subsidiaries, operates online shopping platforms in People’s Republic of China. It operates in three segments: Supply Chain Financing Service and Trading Business, Asset Management Service, and Others. The company offers cross-border money transfer service, brokerage and investment banking, and cryptocurrency mining farm business.