Elevai Labs Inc. has been granted an exception by Nasdaq to cure its bid price deficiency and maintain its listing. The company must complete a reverse stock split by December 26, 2024, and demonstrate compliance with the $1.00 minimum bid price rule by January 9, 2025.This decision follows Elevai's appeal to the Nasdaq Hearings Panel after failing to meet the initial September 3, 2024 deadline to regain compliance. The company's compliance plan includes raising $8 million in a public offering, obtaining shareholder approval for a reverse split, and conducting a tender offer to exchange common stock for non-trading preferred stock.Elevai must promptly notify Nasdaq of any significant events that may affect its compliance during this period. The company has until November 22, 2024, to request a review of the Panel's decision by the Nasdaq Listing and Hearing Review Council, which would require a $15,000 fee.

Elevai Labs Inc. has been granted an exception by Nasdaq to cure its bid price deficiency and maintain its listing. The company must complete a reverse stock split by December 26, 2024, and demonstrate compliance with the $1.00 minimum bid price rule by January 9, 2025.This decision follows Elevai's appeal to the Nasdaq Hearings Panel after failing to meet the initial September 3, 2024 deadline to regain compliance. The company's compliance plan includes raising $8 million in a public offering, obtaining shareholder approval for a reverse split, and conducting a tender offer to exchange common stock for non-trading preferred stock.Elevai must promptly notify Nasdaq of any significant events that may affect its compliance during this period. The company has until November 22, 2024, to request a review of the Panel's decision by the Nasdaq Listing and Hearing Review Council, which would require a $15,000 fee.