Bit Origin Faces Nasdaq Delisting Warning Over Delayed Filing
Ticker: BTOG · Form: 6-K · Filed: Nov 22, 2024 · CIK: 1735556
| Field | Detail |
|---|---|
| Company | Bit Origin Ltd (BTOG) |
| Form Type | 6-K |
| Filed Date | Nov 22, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 2 min |
| Sentiment | bearish |
Sentiment: bearish
Topics: listing-compliance, sec-filing, delisting-risk
TL;DR
Nasdaq warning for Bit Origin: missed 20-F filing deadline, 60 days to fix or get booted.
AI Summary
BIT ORIGIN Ltd received a notice from Nasdaq on November 20, 2024, stating it no longer complies with listing rules due to not filing its Form 20-F for the year ended June 30, 2024. The company has 60 days to submit a plan to regain compliance.
Why It Matters
Failure to file required financial reports can lead to delisting from Nasdaq, impacting liquidity and investor confidence.
Risk Assessment
Risk Level: medium — The company is at risk of delisting from Nasdaq if it cannot rectify the late filing issue within the given timeframe.
Key Numbers
- 60 — Days to regain compliance (The period Nasdaq has granted Bit Origin to submit a plan to regain listing compliance.)
Key Players & Entities
- BIT ORIGIN Ltd (company) — Filer of the 6-K report and subject of the Nasdaq notice.
- Nasdaq (company) — Stock exchange that issued the non-compliance notice.
- November 20, 2024 (date) — Date the company received the Nasdaq notice.
- June 30, 2024 (date) — End of the fiscal year for which the Form 20-F was due.
- 60 calendar days (duration) — Timeframe provided by Nasdaq to submit a compliance plan.
FAQ
What specific rule did BIT ORIGIN Ltd violate according to Nasdaq?
BIT ORIGIN Ltd violated Nasdaq Listing Rule 5250(c)(1) by failing to file its Form 20-F for the year ended June 30, 2024.
When did BIT ORIGIN Ltd receive the notice from Nasdaq?
The company received the written notice from Nasdaq on November 20, 2024.
What is the deadline for BIT ORIGIN Ltd to submit a plan to Nasdaq?
BIT ORIGIN Ltd has 60 calendar days from the notice date to submit a plan to regain compliance.
What is the purpose of the Form 20-F that BIT ORIGIN Ltd failed to file?
The Form 20-F is the annual report for the year ended June 30, 2024, required by Nasdaq for continued listing.
What was BIT ORIGIN Ltd's former company name?
BIT ORIGIN Ltd's former company name was China Xiangtai Food Co., Ltd., with a name change date of March 26, 2018.
Filing Stats: 395 words · 2 min read · ~1 pages · Grade level 14.5 · Accepted 2024-11-22 16:30:08
Filing Documents
- tm2429228d1_6k.htm (6-K) — 11KB
- tm2429228d1_ex99-1.htm (EX-99.1) — 8KB
- 0001104659-24-122117.txt ( ) — 20KB
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. Date: November 22, 2024 BIT ORIGIN LTD By: /s/ Jinghai Jiang Name: Jinghai Jiang Title: Chief Executive Officer, Chief Operating Officer and Chairman of the Board