Bit Origin Ltd Faces Nasdaq Delisting Warning
Ticker: BTOG · Form: 6-K · Filed: Jan 8, 2025 · CIK: 1735556
| Field | Detail |
|---|---|
| Company | Bit Origin Ltd (BTOG) |
| Form Type | 6-K |
| Filed Date | Jan 8, 2025 |
| Risk Level | high |
| Pages | 1 |
| Reading Time | 2 min |
| Key Dollar Amounts | $2,500,000, $909,583 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting-warning, compliance, stock-price
TL;DR
Nasdaq says BIT ORIGIN's stock price is too low, warning of potential delisting.
AI Summary
On January 3, 2025, Bit Origin Ltd received a notice from Nasdaq stating it no longer complies with Nasdaq Listing Rule 5550(b)(1), which requires a minimum bid price of $2.00 per share for companies on the Nasdaq Capital Market. The company was previously known as China Xiangtai Food Co., Ltd. and changed its name on March 26, 2018.
Why It Matters
This notice indicates a potential risk of delisting from the Nasdaq Capital Market, which could negatively impact the company's stock liquidity and investor confidence.
Risk Assessment
Risk Level: high — The company has received a formal notice from Nasdaq for non-compliance with minimum bid price requirements, putting it at high risk of delisting.
Key Numbers
- $2.00 — Minimum Bid Price (Required by Nasdaq Listing Rule 5550(b)(1) for continued listing on the Nasdaq Capital Market.)
Key Players & Entities
- Bit Origin Ltd (company) — Filer of the 6-K report and subject of the Nasdaq notice.
- The Nasdaq Stock Market LLC (company) — Issued the non-compliance notice to Bit Origin Ltd.
- Nasdaq Listing Rule 5550(b)(1) (rule) — The specific rule Bit Origin Ltd is currently non-compliant with.
- $2.00 (dollar_amount) — The minimum bid price required by Nasdaq Listing Rule 5550(b)(1).
- January 3, 2025 (date) — Date Bit Origin Ltd received the Nasdaq notice.
- China Xiangtai Food Co., Ltd. (company) — Former name of Bit Origin Ltd.
FAQ
What specific Nasdaq rule is Bit Origin Ltd non-compliant with?
Bit Origin Ltd is non-compliant with Nasdaq Listing Rule 5550(b)(1), which requires companies on the Nasdaq Capital Market to maintain a minimum bid price of $2.00 per share.
When did Bit Origin Ltd receive the notice from Nasdaq?
Bit Origin Ltd received the written notice from The Nasdaq Stock Market LLC on January 3, 2025.
What is the minimum bid price required by Nasdaq for companies on the Capital Market?
The minimum bid price required by Nasdaq Listing Rule 5550(b)(1) is $2.00 per share.
What was Bit Origin Ltd's former company name?
Bit Origin Ltd's former company name was China Xiangtai Food Co., Ltd.
What is the address of Bit Origin Ltd's principal executive office?
The address of Bit Origin Ltd's principal executive office is 27F, Samsung Hub, 3 Church Street, Singapore 049483.
Filing Stats: 404 words · 2 min read · ~1 pages · Grade level 14.4 · Accepted 2025-01-08 17:25:22
Key Financial Figures
- $2,500,000 — Capital Market to maintain a minimum of $2,500,000 in stockholders’ equity for conti
- $909,583 — reported stockholders’ equity of $909,583. In accordance with the Rules, the Comp
Filing Documents
- tm252230d1_6k.htm (6-K) — 11KB
- tm252230d1_ex99-1.htm (EX-99.1) — 7KB
- 0001104659-25-002101.txt ( ) — 18KB
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: January 8, 2025 BIT ORIGIN LTD By: /s/ Jinghai Jiang Name: Jinghai Jiang Title: Chief Executive Officer, Chief Operating Officer and Chairman of the Board