Santech Holdings Eligible for Nasdaq Listing Exception
Ticker: BVC · Form: 6-K · Filed: Dec 5, 2024 · CIK: 1785680
Sentiment: neutral
Topics: listing-compliance, nasdaq, regulatory-update
TL;DR
Nasdaq gives Santech Holdings a pass on bid price, listing stays intact.
AI Summary
Santech Holdings Limited (formerly Hywin Holdings Ltd.) received a notification from Nasdaq on December 4, 2024, stating it has not yet regained compliance with the minimum bid price requirement. However, Nasdaq has determined the company is eligible for an exception, allowing it to continue listing on the exchange.
Why It Matters
This news is crucial for investors as it indicates Santech Holdings can maintain its Nasdaq listing despite not meeting the minimum bid price, avoiding delisting.
Risk Assessment
Risk Level: medium — While the company avoided immediate delisting, the underlying issue of not meeting the minimum bid price persists, posing a continued risk to investors.
Key Players & Entities
- Santech Holdings Limited (company) — The company that received the Nasdaq notification.
- Hywin Holdings Ltd. (company) — Former name of Santech Holdings Limited.
- Nasdaq (company) — The stock exchange that issued the notification.
- December 4, 2024 (date) — Date Santech Holdings received the notification.
FAQ
What is the specific minimum bid price requirement Santech Holdings failed to meet?
The filing does not specify the exact dollar amount of the minimum bid price requirement, only that the company has not regained compliance.
What is the duration of the exception granted by Nasdaq?
The filing does not specify the duration of the exception granted by Nasdaq.
What are the conditions for Santech Holdings to maintain its listing under this exception?
The filing does not detail the specific conditions Santech Holdings must meet to maintain its listing under the exception.
Has Santech Holdings previously received a deficiency notice regarding the minimum bid price?
The filing implies a continued lack of compliance but does not explicitly state if this is a new or ongoing deficiency notice.
What is the significance of the company formerly being known as Hywin Holdings Ltd.?
The filing notes the name change occurred on August 16, 2019, indicating a rebranding or restructuring event for the company.
Filing Stats: 361 words · 1 min read · ~1 pages · Grade level 15.3 · Accepted 2024-12-05 06:24:05
Key Financial Figures
- $1.00 — squo;s ordinary shares meet or exceed US$1.00 per American Depositary Share (“A
Filing Documents
- tm2430261d1_6k.htm (6-K) — 11KB
- tm2430261d1_ex99-1.htm (EX-99.1) — 8KB
- 0001104659-24-125745.txt ( ) — 20KB
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 December 2024 Commission File Number: 001-40238 SANTECH HOLDINGS LIMITED Level 15, AIA Central, No.1 Connaught Road Central Central, Hong Kong (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 Form 40-F EXPLANATORY NOTE On December 4, 2024, Santech Holdings Limited (the “Company”) received a letter from the staff of the Listing Qualifications Department of The Nasdaq Stock Market Inc.’s (the "Nasdaq") notifying the Company that, while the Company has not regained compliance with the minimum bid price requirement (the “Minimum Bid Price Requirement”), Nasdaq has determined that the Company is eligible for an additional 180 calendar day period, or until May 26, 2025, (the "Second Compliance Period") to regain compliance. In order to be provided with a Second Compliance Period, the Company submitted an application to transfer the listing of its ordinary shares from the Nasdaq Global Market to the Nasdaq Capital Market. This transfer to the Nasdaq Capital Market was approved and became effective as of December 5, 2024. If at any time during the Second Compliance Period, the closing bid price of the Company’s ordinary shares meet or exceed US$1.00 per American Depositary Share (“ADS”) for a minimum of ten consecutive business days, Nasdaq will provide written confirmation of compliance and this matter will be closed. The Company intends to continue to actively monitor its compliance with the Minimum Bid Price Requirement and, as appropriate, will consider available options to resolve any deficiencies and regain compliance, including the implementation of a reverse share split and ADS ratio change, if necessary. Exhibits 99.1 Press release dated December 5, 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. Santech Holdings Limited By: /s/ Lawrence Lok Name: Lawrence Lok Title: Director, Acting CEO Date: December 5, 2024