Canaan Inc. (NASDAQ: CAN) has received an additional 180-day period from Nasdaq to regain compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2), giving the company until January 11, 2027, according to a press release.

The company first received a non-compliance notice from Nasdaq on January 14, 2026, and was given an initial 180-day period through July 13, 2026, to meet the $1.00 minimum closing bid price requirement. Canaan's American Depositary Shares (ADSs), each representing 15 Class A ordinary shares, did not meet that threshold within the initial period.

As part of its request for the additional compliance period, Canaan applied to transfer its ADS listing from the Nasdaq Global Market to the Nasdaq Capital Market. Nasdaq approved the transfer on June 29, 2026, and it became effective July 1, 2026.

The company's ADSs will continue to trade on the Nasdaq Capital Market under the symbol "CAN" during the extended compliance period. The notification has no immediate effect on the listing or trading of the ADSs.

To regain compliance, the closing bid price of Canaan's ADSs must reach at least $1.00 per share for a minimum of ten consecutive business days at any point before the January 11, 2027 deadline. Nasdaq would then issue written confirmation that the deficiency has been resolved.

Canaan said it intends to monitor its ADS closing bid price and evaluate available options to meet the requirement. The company stated it satisfies all other applicable listing requirements for the Nasdaq Capital Market.