Hywin Holdings Receives Nasdaq Non-Compliance Notice
Ticker: BVC · Form: 6-K · Filed: May 30, 2024 · CIK: 1785680
Sentiment: bearish
Topics: listing-compliance, delisting-risk, sec-filing
TL;DR
Nasdaq says Hywin's stock price is too low, risking delisting.
AI Summary
Hywin Holdings Ltd. announced on May 30, 2024, that it received a notification letter from The Nasdaq Stock Market. This notification indicates that Hywin Holdings is not in compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market, as its closing bid price has fallen below $1.00 for 30 consecutive business days.
Why It Matters
Failure to regain compliance with Nasdaq's minimum bid price rule could lead to the delisting of Hywin Holdings' securities, impacting its liquidity and investor confidence.
Risk Assessment
Risk Level: medium — The company is at risk of delisting from Nasdaq if it cannot meet the minimum bid price requirement, which could negatively impact its stock value and investor confidence.
Key Numbers
- $1.00 — Minimum Bid Price (Hywin Holdings' closing bid price has fallen below this threshold for 30 consecutive business days, triggering a non-compliance notice from Nasdaq.)
Key Players & Entities
- Hywin Holdings Ltd. (company) — Registrant
- The Nasdaq Stock Market (company) — Exchange where securities are listed
- May 30, 2024 (date) — Date of notification
- $1.00 (dollar_amount) — Minimum bid price requirement
FAQ
What is the specific reason Hywin Holdings received a notification from Nasdaq?
Hywin Holdings received a notification letter from The Nasdaq Stock Market indicating non-compliance with the minimum bid price requirement for continued listing, as its closing bid price has fallen below $1.00 for 30 consecutive business days.
When did Hywin Holdings receive this notification?
Hywin Holdings announced the receipt of the notification letter on May 30, 2024, Beijing Time.
What is the minimum bid price requirement for Nasdaq Capital Market listing?
The minimum bid price requirement for continued listing on the Nasdaq Capital Market is $1.00.
How long has Hywin Holdings' stock price been below $1.00?
Hywin Holdings' closing bid price has fallen below $1.00 for 30 consecutive business days.
What are the potential consequences of this non-compliance notice?
The potential consequence of this non-compliance notice is the delisting of Hywin Holdings' securities from the Nasdaq Capital Market if the company does not regain compliance with the minimum bid price rule.
Filing Stats: 296 words · 1 min read · ~1 pages · Grade level 11.6 · Accepted 2024-05-30 06:01:02
Key Financial Figures
- $1.00 — res ("ADSs") has been below US$1.00 per ADS for a period of 30 consecutive
Filing Documents
- tm2415801d1_6k.htm (6-K) — 11KB
- tm2415801d1_ex99-1.htm (EX-99.1) — 8KB
- 0001104659-24-066304.txt ( ) — 21KB
From the Filing
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of May 2024 Commission File Number: 001-40238 HYWIN HOLDINGS LTD. F3, Hywin Financial Centre, 8 Yincheng Mid. Road, Pudong New District, Shanghai, People’s Republic of China, 200120 (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F þ Form 40-F Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): Hywin Holdings Announces Receipt of Notification from Nasdaq On May 30, 2024 Beijing Time, the registrant announced receipt of a notification letter from The Nasdaq Stock Market Inc. (the “Nasdaq”) indicating that the registrant is not in compliance with the minimum bid price requirement set forth in Rule 5450(a)(1) of the Nasdaq Listing Rules as the closing bid price of the registrant’s American depositary shares ("ADSs") has been below US$1.00 per ADS for a period of 30 consecutive trading days. A copy of the press release issued by the registrant regarding the foregoing is filed herewith as Exhibit 99.1 and is incorporated herein by reference. Exhibits 99.1 Press release dated May 30, 2024. SIGNATURE 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. Hywin Holdings Ltd. By: /s/ Lawrence Lok Name: Lawrence Lok Title: Chief Financial Officer Date: May 30, 2024 Beijing Time