X3 Holdings Receives Nasdaq Bid Price Deficiency Notice
Ticker: XTKG · Form: 6-K · Filed: Apr 11, 2024 · CIK: 1754323
| Field | Detail |
|---|---|
| Company | X3 Holdings Co., Ltd. (XTKG) |
| Form Type | 6-K |
| Filed Date | Apr 11, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 1 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: listing-compliance, notification, stock-price
Related Tickers: X3HL
TL;DR
Nasdaq says X3 Holdings' stock price is too low, needs to fix it in 180 days or get booted.
AI Summary
X3 Holdings Co., Ltd. (formerly Powerbridge Technologies Co., Ltd.) filed a Form 6-K on April 11, 2024, to report the receipt of a Nasdaq notification letter. The letter indicates a deficiency in meeting the minimum bid price requirement, which is $1.00 per share. The company has 180 calendar days to regain compliance.
Why It Matters
Failure to regain compliance with Nasdaq's minimum bid price rule could lead to delisting, impacting the company's liquidity and investor confidence.
Risk Assessment
Risk Level: medium — The company faces potential delisting from Nasdaq if it cannot meet the minimum bid price requirement within the specified timeframe.
Key Numbers
- 180 — Days to regain compliance (The company has this period to meet Nasdaq's minimum bid price rule.)
- $1.00 — Minimum bid price (The threshold X3 Holdings must maintain for its stock.)
Key Players & Entities
- X3 Holdings Co., Ltd. (company) — Registrant
- Powerbridge Technologies Co., Ltd. (company) — Former company name
- Nasdaq (company) — Exchange where shares are listed
- $1.00 (dollar_amount) — Minimum bid price requirement
FAQ
What is the specific deficiency X3 Holdings Co., Ltd. was notified of by Nasdaq?
X3 Holdings Co., Ltd. was notified of a deficiency regarding the minimum bid price requirement, which mandates a closing bid price of at least $1.00 per share.
What is the deadline for X3 Holdings to regain compliance with Nasdaq's minimum bid price rule?
The company has 180 calendar days from the date of the notification to regain compliance with the minimum bid price requirement.
What was X3 Holdings Co., Ltd. formerly known as?
X3 Holdings Co., Ltd. was formerly known as Powerbridge Technologies Co., Ltd.
What is the primary purpose of this Form 6-K filing?
The primary purpose of this Form 6-K filing is to report the receipt of a notification letter from Nasdaq regarding a minimum bid price deficiency.
What are the potential consequences if X3 Holdings fails to regain compliance?
If X3 Holdings fails to regain compliance with the minimum bid price requirement within the 180-day period, its securities may be subject to delisting from The Nasdaq Capital Market.
Filing Stats: 169 words · 1 min read · ~1 pages · Grade level 10.2 · Accepted 2024-04-11 08:00:16
Filing Documents
- ea0203703-6k_x3holdings.htm (6-K) — 9KB
- ea020370301ex99-1_x3holdings.htm (EX-99.1) — 7KB
- 0001213900-24-032000.txt ( ) — 18KB
From the Filing
OF FOREIGN PRIVATE ISSUER 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 April 2024 Commission File Number: 001-38851 X3 HOLDINGS CO., LTD. (Translation of Registrant’s name into English) Suite 412, Tower A, Tai Seng Exchange One Tai Seng Avenue Singapore 536464 (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 EXHIBIT INDEX Exhibit No. Description 99.1 Press Release - X3 Holdings Announces Receipt of Nasdaq Notification Letter Regarding Minimum Bid Price Deficiency 1 SIGNATURE Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: April 11, 2024 X3 HOLDINGS CO., LTD. By: /s/ Stewart Lor Stewart Lor Chief Executive Officer 2