Close

ECMOHO Limited (MOHO) Receives Delisting Notice from Nasdaq, Won't Appeal

September 20, 2022 4:15 PM EDT

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

ECMOHO Limited (the “Company”) (Nasdaq: MOHO) today announced that on September 14, 2022, it was notified by the Nasdaq Stock Market (“Nasdaq”) that the staff of the Nasdaq Listing Qualifications Department has determined to commence proceedings to delist the American Depositary Shares, each representing four Class A Ordinary Shares (the “ADSs”) of the Company from the Nasdaq Capital Market. Trading in the Company’s ADSs will be suspended at the opening of business on September 23, 2022.

The Nasdaq Listing Qualifications Department reached its decision to delist the ADSs because the Company had not regained compliance with Nasdaq Listing Rule 5550 (a)(2), which requires the ADSs to have a minimum bid price of at least $1 per ADS. Nasdaq will file a From 25-NSE with the Securities and Exchange Commission (the “SEC”), which will remove the Company’s ADSs from listing and registration on Nasdaq.

The Company has elected not to appeal the Nasdaq Listing Qualifications Department 's determination. The Company expects that the ADSs or the underlying Class A Ordinary Shares will be eligible to be quoted on an appropriate tier of the OTC Markets. To the extent the ADSs or the underlying Class A Ordinary Shares are quoted on the OTC Markets, the Company expects that such markets may provide less liquidity than Nasdaq and that the trading price of the securities may decline.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Corporate News, Hot Corp. News