Kaixin Holdings Granted Nasdaq Extension to Regain Compliance, Plans Reverse Stock Split
Kaixin Holdings Granted Nasdaq Extension to Regain Compliance, Plans Reverse Stock Split
Kaixin Holdings ("Kaixin" or the "Company") (NASDAQ:KXIN), a leading new energy vehicle manufacturer and sales platform in China, today announced that it received a letter dated September 12, 2024 from the Nasdaq Hearings Panel ("Panel"), indicating that the Panel has determined to grant the Company a temporary exception to regain compliance with The Nasdaq Stock Market LLC's Listing Rule 5550(a)(2) (the "Bid Price Rule") by December 13, 2024. The Company is scheduled to hold an extraordinary general meeting on October 1, 2024 to obtain shareholders' approval for a reverse stock split. The Company aims to effectuate a reverse stock split by November 30, 2024, and to regain compliance with the Bid Price Rule by December 13, 2024.
凱新控股（"Kaixin" 或"公司"）（NASDAQ:KXIN），中國領先的新能源車輛製造商和銷售平台，今天宣佈收到納斯達克聽證會小組（"Panel"）於2024年9月12日發出的一封信，表示小組已決定臨時豁免公司於2024年12月13日前遵守納斯達克證券交易所LLC的第5550(a)(2)條上市規定（"買盤規則"）。公司計劃於2024年10月1日舉行特別股東大會，以獲得股東批准進行股票回購。公司計劃於2024年11月30日實施股票回購，並於2024年12月13日前恢復買盤規則的遵從。
The temporary exception granted to the Company is subject to the following milestones. In the event the Company fails to regain compliance with the Bid Price Rule by December 13, 2024, its securities will be delisted.
向公司授予的臨時豁免取決於以下里程碑。如果公司未能在2024年12月13日前遵守買盤規則，其證券將被除牌。
- On or before October 1, 2024, the Company shall obtain shareholders approval for a reverse stock split at a ratio that satisfies the minimum requirement in the Bid Price Rule;
- On or before November 30, 2024, the Company shall effect a reverse stock split and, thereafter, maintain a $1 closing bid price for a minimum of ten consecutive business days;
- On or before December 13, 2024, the Company shall have demonstrated compliance with the Bid Price Rule, by evidencing a closing bid price of $1 or more per share for a minimum of ten consecutive trading sessions.
- 2024年10月1日或之前，公司應獲得股東批准，進行一項符合買盤規則最低要求的股票回購；
- 2024年11月30日或之前，公司應進行一項股票回購，並在此後，維持至少十個連續營業日收盤買盤價爲1美元；
- 2024年12月13日或之前，公司應證明遵守買盤規則，證明每股收盤買盤價至少爲1美元，連續交易十個季度。
譯文內容由第三人軟體翻譯。