Abits Group Gets Nasdaq Bid Price Extension to April 2025
Ticker: ABTS · Form: 6-K · Filed: Oct 11, 2024 · CIK: 1864055
Sentiment: neutral
Topics: listing-compliance, extension, nasdaq
Related Tickers: BITS
TL;DR
Nasdaq gives Abits Group (BITS) until April 7, 2025, to fix its $1 share price problem.
AI Summary
Abits Group Inc. received an extension from The Nasdaq Stock Market LLC on October 10, 2024, to regain compliance with the minimum $1.00 bid price per share requirement. The company now has until April 7, 2025, to meet this listing standard for The Nasdaq Capital Market.
Why It Matters
This extension provides Abits Group Inc. with more time to address its low stock price, potentially avoiding delisting from the Nasdaq Capital Market.
Risk Assessment
Risk Level: medium — The company is still non-compliant with a key Nasdaq listing rule, indicating ongoing financial or market challenges.
Key Numbers
- $1.00 — Minimum Bid Price (The threshold Abits Group must meet to remain listed on Nasdaq Capital Market.)
- 180 days — Extension Period (Additional time granted by Nasdaq for Abits Group to comply.)
- April 7, 2025 — New Compliance Deadline (The final date Abits Group has to meet the minimum bid price requirement.)
Key Players & Entities
- Abits Group Inc (company) — the company receiving the extension
- The Nasdaq Stock Market LLC (company) — the entity granting the extension
- $1.00 (dollar_amount) — minimum bid price requirement
- April 7, 2025 (date) — new deadline for compliance
- October 10, 2024 (date) — date the extension was granted
FAQ
What specific rule did Abits Group Inc. need to comply with?
Abits Group Inc. needed to comply with Nasdaq Marketplace Rule 5550(a)(2), which requires a minimum bid price of $1.00 per share for continued listing on The Nasdaq Capital Market.
What was the original deadline for Abits Group Inc. to regain compliance?
The filing does not state the original deadline, only that an additional 180 calendar day period was granted, extending the deadline to April 7, 2025.
What is the new deadline for Abits Group Inc. to meet the bid price requirement?
The new deadline for Abits Group Inc. to regain compliance with the minimum $1.00 bid price per share requirement is April 7, 2025.
Which stock exchange is Abits Group Inc. listed on?
Abits Group Inc. is listed on The Nasdaq Capital Market.
What action did The Nasdaq Stock Market LLC take regarding Abits Group Inc.'s listing status?
The Nasdaq Stock Market LLC granted Abits Group Inc. an additional 180 calendar day period to regain compliance with the minimum $1.00 bid price per share requirement.
Filing Stats: 497 words · 2 min read · ~2 pages · Grade level 14.4 · Accepted 2024-10-11 08:35:34
Key Financial Figures
- $1.00 b — , to regain compliance with the minimum $1.00 bid price per share requirement for conti
- $1.00 — ordinary shares must close at or above $1.00 per share for a minimum of ten consecut
Filing Documents
- form6-k.htm (6-K) — 20KB
- ex99-1.htm (EX-99.1) — 6KB
- 0001493152-24-040824.txt ( ) — 27KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. ABITS GROUP INC Date: October 11, 2024 By: /s/ Deng Conglin Name: Deng Conglin Title: Chief Executive Officer