ATIF Holdings to be Delisted from Nasdaq

TL;DR

Nasdaq's kicking ATIF out, trading stops May 23rd. They're fighting it.

AI Summary

ATIF Holdings Ltd. announced on May 20, 2024, that it received a notice from the Nasdaq Stock Market indicating its non-compliance with listing rules. The company has been notified that its securities will be delisted from the Nasdaq Capital Market, with trading expected to cease on May 23, 2024. ATIF Holdings intends to request a hearing with the Nasdaq Listing Qualifications Department.

Why It Matters

This delisting will significantly impact ATIF Holdings' ability to raise capital and its stock's liquidity, potentially affecting its valuation and investor confidence.

Risk Assessment

Risk Level: high — Delisting from a major exchange like Nasdaq poses a severe risk to the company's financial health and future prospects.

Key Numbers

• May 23, 2024 — Last Trading Day (The date on which ATIF Holdings' securities are expected to cease trading on the Nasdaq Capital Market.)

Key Players & Entities

• ATIF Holdings Ltd. (company) — Registrant
• Nasdaq Stock Market (company) — Exchange issuing delisting notice
• Nasdaq Capital Market (company) — Market segment from which ATIF is being delisted
• May 20, 2024 (date) — Date of delisting notice
• May 23, 2024 (date) — Expected last day of trading

FAQ

Key Financial Figures

• $0.001 — on which registered Ordinary Shares, $0.001 par value ATIF Nasdaq Capital Marke
• $1.00 — inary shares has been below the minimum $1.00 per share required for continued listin

Filing Documents

• ea0206574-8k_atifhol.htm (8-K) — 27KB
• 0001213900-24-045612.txt ( ) — 199KB
• atif-20240520.xsd (EX-101.SCH) — 3KB
• atif-20240520_lab.xml (EX-101.LAB) — 33KB
• atif-20240520_pre.xml (EX-101.PRE) — 22KB
• ea0206574-8k_atifhol_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 May 20, 2024, ATIF Holdings Limited (the "Company") received a deficiency letter from the Nasdaq Listing Qualifications Department (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, for the last 30 consecutive business days, the closing bid price for the Company's ordinary shares has been below the minimum $1.00 per share required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the " Minimum Bid Price Requirement "). The Nasdaq deficiency letter has no immediate effect on the listing of the Company's ordinary shares, and its ordinary shares will continue to trade on The Nasdaq Capital Market under the symbol "ATIF" at this time. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been given 180 calendar days, or until November 18, 2024, to regain compliance with the Minimum Bid Price Requirement. If at any time before November 18, 2024, the bid price of the Company's common stock closes at $1.00 per ordinary share or more for a minimum of 10 consecutive business days, the Staff will provide written confirmation that the Company has achieved compliance. If the Company does not regain compliance with the Minimum Bid Price Requirement by November 18, 2024, the Company may be afforded a second 180 calendar day period to regain compliance. To qualify, the Company would be required to notify Nasdaq of its intent to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. Following a transfer to The Nasdaq Capital Market, the Company will be afforded the second 180 calendar day period to regain compliance, unless it does not appear to Nasdaq that it is possible for the Company to cure the deficiency. If the Company does not regain compliance with the Minimum Bid Price Requirement by the end of the compliance p

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. ATIF HOLDINGS LIMITED By: /s/ Jun Liu Jun Liu Chief Executive Officer and Chairman of the Board Date: May 21, 2024 2

View Full Filing

View this 8-K filing on SEC EDGAR