Abits Group Inc. announced on October 10, 2024, that it received notification from The Nasdaq Stock Market LLC, granting an additional 180 calendar day period to comply with its minimum bid price requirement. This extension provides the company until April 7, 2025, to meet the listing standards.
To regain compliance, the closing bid price of the company's common shares must be at least $1.00 per share or greater for a minimum of ten consecutive business days. This action is a standard procedure for companies facing such compliance challenges.
The extension allows Abits Group Inc. to continue its operations as a publicly traded entity on Nasdaq while working towards resolving the bid price issue. This avoids an immediate delisting, which could negatively impact shareholder liquidity and access to capital.
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