Erayak Power Solution Group Faces Nasdaq Delisting Warning
Ticker: RAYA · Form: 6-K · Filed: May 15, 2024 · CIK: 1825875
Sentiment: bearish
Topics: listing-compliance, delisting-risk, sec-filing
TL;DR
Nasdaq warning: Erayak's stock price too low, needs to hit $1 by May 20 or risk delisting.
AI Summary
Erayak Power Solution Group Inc. received a written notice from Nasdaq on November 20, 2023, stating the company was not in compliance with the minimum bid price requirement of $1.00 per share for its Class A ordinary shares. The company has a grace period until May 20, 2024, to regain compliance.
Why It Matters
Failure to meet Nasdaq's minimum bid price requirement could lead to the delisting of Erayak's shares, impacting liquidity and investor confidence.
Risk Assessment
Risk Level: medium — The company is at risk of being delisted from Nasdaq if it cannot meet the minimum bid price requirement.
Key Numbers
- $1.00 — Minimum Bid Price (Nasdaq's requirement for the closing bid price of Erayak's ordinary shares.)
Key Players & Entities
- Erayak Power Solution Group Inc. (company) — The company filing the report and subject to the Nasdaq notice.
- Nasdaq Stock Market, LLC (company) — The stock exchange that issued the non-compliance notice.
- November 20, 2023 (date) — Date Erayak received the written notice from Nasdaq.
- May 20, 2024 (date) — Deadline for Erayak to regain compliance with Nasdaq's minimum bid price.
- $1.00 (dollar_amount) — The minimum closing bid price requirement for Erayak's ordinary shares on Nasdaq.
FAQ
What specific requirement is Erayak Power Solution Group Inc. failing to meet with Nasdaq?
Erayak is failing to meet the minimum closing bid price requirement of $1.00 per share for its Class A ordinary shares.
When did Erayak receive the notice from Nasdaq regarding its non-compliance?
Erayak received the written notice from Nasdaq on November 20, 2023.
What is the deadline for Erayak to regain compliance with Nasdaq's minimum bid price rule?
The company has a grace period until May 20, 2024, to regain compliance.
What is the par value of Erayak's Class A ordinary shares?
The par value of Erayak's Class A ordinary shares is US$0.0001 per share.
What action might Nasdaq take if Erayak does not regain compliance by the deadline?
If Erayak does not regain compliance by May 20, 2024, it risks being delisted from the Nasdaq Stock Market.
Filing Stats: 519 words · 2 min read · ~2 pages · Grade level 14.8 · Accepted 2024-05-15 07:30:10
Key Financial Figures
- $0.0001 — ;s Class A ordinary shares, par value US$0.0001 per share (the “Ordinary Shares&r
- $1.00 — ties to maintain a minimum bid price of $1.00 per share (the “Minimum Bid Price
Filing Documents
- ea0206177-6k_erayakpow.htm (6-K) — 11KB
- 0001213900-24-043176.txt ( ) — 12KB
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. Erayak Power Solution Group Inc Date: May 15, 2024 By: /s/ Lingyi Kong Name: Lingyi Kong Title: Chief Executive Officer 2