Metalpha Faces Nasdaq Bid Price Deficiency
Ticker: MATH · Form: 6-K · Filed: Aug 19, 2024 · CIK: 1682241
| Field | Detail |
|---|---|
| Company | Metalpha Technology Holding LTD (MATH) |
| Form Type | 6-K |
| Filed Date | Aug 19, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 1 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: listing-requirements, compliance, press-release
TL;DR
Nasdaq says Metalpha's stock price is too low, giving them 180 days to fix it or get booted.
AI Summary
Metalpha Technology Holding Limited (Metalpha) received a notification of deficiency from The Nasdaq Stock Market LLC on August 19, 2024. The deficiency relates to Metalpha's non-compliance with Nasdaq's minimum bid price requirement, as its common stock has traded below $1.00 per share for 30 consecutive business days. Metalpha has 180 calendar days to regain compliance.
Why It Matters
Failure to regain compliance could lead to delisting from the Nasdaq Stock Market, impacting liquidity and investor confidence.
Risk Assessment
Risk Level: medium — The risk is medium because while delisting is a possibility, the company has a defined period to rectify the issue.
Key Numbers
- 180 — Days to regain compliance (Metalpha has this period to meet Nasdaq's minimum bid price requirement.)
Key Players & Entities
- Metalpha Technology Holding Limited (company) — Filer of the report and subject of the Nasdaq notification
- The Nasdaq Stock Market LLC (company) — Issuing the deficiency notification
- Limin Liu (person) — Signed the report on behalf of Metalpha
- $1.00 (dollar_amount) — Minimum bid price requirement for Nasdaq compliance
FAQ
What is the specific reason for Metalpha's deficiency notification from Nasdaq?
Metalpha received the notification because its common stock has traded below $1.00 per share for 30 consecutive business days, failing to meet Nasdaq's minimum bid price requirement.
What is the deadline for Metalpha to regain compliance with Nasdaq's rules?
Metalpha has 180 calendar days from the date of the notification to regain compliance with the minimum bid price requirement.
What is the filing date of this 6-K report?
This 6-K report was filed on August 19, 2024.
What was Metalpha's former company name?
Metalpha Technology Holding Limited's former company name was Dragon Victory International Ltd.
What is the principal executive office address for Metalpha?
The principal executive offices are located at Suite 6703-04, Central Plaza, 18 Harbour Road, Wan Chai, Hong Kong, China.
Filing Stats: 167 words · 1 min read · ~1 pages · Grade level 13.9 · Accepted 2024-08-19 07:45:36
Filing Documents
- ea0211727-6k_metalpha.htm (6-K) — 18KB
- ea021172701ex99-1_metalpha.htm (EX-99.1) — 6KB
- 0001213900-24-070413.txt ( ) — 25KB
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. Metalpha Technology Holding Limited By: /s/ Limin Liu Name: Limin Liu Title: Chief Executive Officer and Chairman of the Board of Directors Date: August 19, 2024 2