TREASURE GLOBAL INC Faces Nasdaq Delisting

TL;DR

**TREASURE GLOBAL INC is getting delisted from Nasdaq on February 20th because its stock price is too low.**

AI Summary

TREASURE GLOBAL INC (NASDAQ: TGL) received a delisting notice from Nasdaq on February 15, 2024, due to its failure to maintain the minimum bid price requirement of $1.00 per share. The company's shares will be suspended from trading on Nasdaq at the opening of business on February 20, 2024, and a Form 25-NSE will be filed to complete the delisting. This action follows a previous notification on August 17, 2023, regarding non-compliance with the minimum bid price rule.

Why It Matters

Delisting from Nasdaq can severely impact a company's ability to raise capital and reduce investor confidence, potentially leading to a significant drop in share price and liquidity for shareholders.

Risk Assessment

Risk Level: high — The delisting from Nasdaq indicates severe financial or operational issues and will significantly reduce the stock's liquidity and investor appeal.

Key Numbers

• $1.00 — Minimum Bid Price (Nasdaq's required minimum bid price per share)

Key Players & Entities

• TREASURE GLOBAL INC (company) — Registrant facing delisting
• Nasdaq (company) — Exchange delisting the company
• $1.00 (dollar_amount) — Minimum bid price requirement
• February 15, 2024 (date) — Date of delisting notice
• February 20, 2024 (date) — Date of trading suspension
• August 17, 2023 (date) — Date of initial non-compliance notification

FAQ

Key Financial Figures

• $0.00001 — ch registered Common Stock, par value $0.00001 per share TGL The Nasdaq Stock Mark
• $1.00 — equires a minimum bid price of at least $1.00 per share (the "Minimum Bid Price Rule"

Filing Documents

• ea193889-8k_treasure.htm (8-K) — 26KB
• 0001213900-24-014886.txt ( ) — 197KB
• tgl-20240215.xsd (EX-101.SCH) — 3KB
• tgl-20240215_lab.xml (EX-101.LAB) — 33KB
• tgl-20240215_pre.xml (EX-101.PRE) — 22KB
• ea193889-8k_treasure_htm.xml (XML) — 4KB

01 Notice of Delisting or Failure to

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On February 15, 2024, Treasure Global Inc (the "Company") received a letter from the Nasdaq Listing Qualifications Staff of The Nasdaq Stock Market LLC ("Nasdaq") stating that the Company has not regained compliance with Nasdaq Listing Rule 5550(a)(2), which requires a minimum bid price of at least $1.00 per share (the "Minimum Bid Price Rule") and that Nasdaq determined that the common stock of the Company will be scheduled for delisting unless the Company requests an appeal of this determination from the Nasdaq Hearings Panel (the "Panel"). On February 16, 2024, the Company submitted a hearing request to the Panel to appeal Nasdaq's determination and submit a compliance plan, which in accordance with Nasdaq rules stays the delisting of the Company's common stock from Nasdaq pending the Panel's decision. The Company's common stock will continue to trade on The Nasdaq Capital Market under the symbol "TGL" pending the ultimate conclusion of the hearing process. There can be no assurance that the Company's plan will be accepted by the Panel or that, if it is, the Company will be able to regain compliance with the Minimum Bid Price Rule. If the common stock of the Company is delisted, it could be more difficult to buy or sell the common stock of the Company or to obtain accurate quotations, and the price of the shares of common stock of the Company could suffer a material decline. Delisting could also impair the Company's ability to raise capital. 1

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 hereunto duly authorized. Date: February 16, 2024 TREASURE GLOBAL INC. By: /s/ Chong Chan "Sam" Teo Name: Chong Chan "Sam" Teo Title: Chief Executive Officer 2

View Full Filing

View this 8-K filing on SEC EDGAR