Orangekloud Technology Inc. announced on December 11, 2024, that it received a letter from The Nasdaq Stock Market's Listing Qualifications staff. The letter notified the company that it no longer meets the continued listing requirement to maintain a minimum Market Value of Listed Securities (MVLS) of $35 million.
The deficiency was based on the company's MVLS for the period from October 24, 2024, to December 10, 2024. Nasdaq has provided Orangekloud with a 180-calendar-day compliance period, extending until June 9, 2025, to regain compliance with this listing requirement.
Failure to regain compliance within this period could result in Nasdaq providing notice that the company's securities will be subject to delisting. Orangekloud stated it is evaluating options and intends to timely regain compliance with Nasdaq's continued listing requirement.
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