Mingzhu Receives Nasdaq Delisting Notice Subject to Hearing Request
MingZhu Logistics Holdings (Nasdaq: YGMZ) announced on February 14, 2025, that it received a delisting notice from Nasdaq due to non-compliance with the minimum bid price requirement. The company's shares have traded below $1 for 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2).
Unlike typical cases where companies receive a 180-day compliance period, MingZhu is ineligible for this grace period because it already implemented a reverse stock split on July 1, 2024. The company has until February 20, 2025, to appeal the delisting determination to a hearing panel, which would temporarily stay the suspension of its securities. MingZhu intends to request such hearing and is exploring options to regain compliance, including considering another reverse stock split subject to shareholder approval.
MingZhu Logistics Holdings (Nasdaq: YGMZ) ha annunciato il 14 febbraio 2025 di aver ricevuto un avviso di delisting da Nasdaq a causa della non conformit脿 ai requisiti di prezzo minimo di offerta. Le azioni della societ脿 sono state scambiate a meno di 1$ per 30 giorni lavorativi consecutivi, violando la Regola di Quotazione Nasdaq 5550(a)(2).
A differenza dei casi tipici in cui le aziende ricevono un periodo di conformit脿 di 180 giorni, MingZhu non ha diritto a questo periodo di grazia poich茅 ha gi脿 attuato uno split azionario inverso il 1掳 luglio 2024. L'azienda ha tempo fino al 20 febbraio 2025 per presentare ricorso contro la decisione di delisting a un pannello di udienza, il quale sospenderebbe temporaneamente la sospensione dei suoi titoli. MingZhu intende richiedere tale udienza ed esplora opzioni per ripristinare la conformit脿, compresa la valutazione di un ulteriore split azionario inverso soggetto all'approvazione degli azionisti.
MingZhu Logistics Holdings (Nasdaq: YGMZ) anunci贸 el 14 de febrero de 2025 que recibi贸 un aviso de deslistado de Nasdaq debido a la falta de cumplimiento con el requisito de precio m铆nimo de oferta. Las acciones de la compa帽铆a han cotizado por debajo de 1$ durante 30 d铆as h谩biles consecutivos, lo que viola la Regla de Cotizaci贸n 5550(a)(2) de Nasdaq.
A diferencia de los casos t铆picos en los que las empresas reciben un per铆odo de cumplimiento de 180 d铆as, MingZhu no es elegible para este per铆odo de gracia porque ya implement贸 un split de acciones inverso el 1 de julio de 2024. La compa帽铆a tiene hasta el 20 de febrero de 2025 para apelar la decisi贸n de deslistado ante un panel de audiencias, que suspender铆a temporalmente la suspensi贸n de sus valores. MingZhu tiene la intenci贸n de solicitar dicha audiencia y est谩 explorando opciones para recuperar la conformidad, incluida la consideraci贸n de otro split de acciones inverso sujeto a la aprobaci贸n de los accionistas.
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MingZhu Logistics Holdings (Nasdaq: YGMZ) a annonc茅 le 14 f茅vrier 2025 avoir re莽u un avis de radiation de Nasdaq en raison de son non-respect de l'exigence de prix d'offre minimum. Les actions de la soci茅t茅 ont 茅t茅 茅chang茅es en dessous de 1$ pendant 30 jours de bourse cons茅cutifs, enfreignant la R猫gle d'inscription Nasdaq 5550(a)(2).
Contrairement aux cas typiques o霉 les entreprises re莽oivent une p茅riode de conformit茅 de 180 jours, MingZhu n'est pas 茅ligible pour cette p茅riode de gr芒ce car elle a d茅j脿 r茅alis茅 une division d'actions invers茅e le 1er juillet 2024. L'entreprise a jusqu'au 20 f茅vrier 2025 pour faire appel de la d茅cision de radiation aupr猫s d'un panel d'audience, ce qui suspendrait temporairement la suspension de ses titres. MingZhu a l'intention de demander une telle audience et explore des options pour retrouver la conformit茅, y compris la possibilit茅 d'une nouvelle division d'actions invers茅e soumise 脿 l'approbation des actionnaires.
MingZhu Logistics Holdings (Nasdaq: YGMZ) gab am 14. Februar 2025 bekannt, dass es eine Delisting-Mitteilung von Nasdaq erhalten hat, da es die Mindestgebotsanforderung nicht erf眉llt hat. Die Aktien des Unternehmens wurden 30 aufeinanderfolgende Handelstage unter 1$ gehandelt, was gegen die Nasdaq-Listing-Regel 5550(a)(2) verst枚脽t.
Im Gegensatz zu typischen F盲llen, in denen Unternehmen eine 180-t盲gige Frist zur Einhaltung erhalten, ist MingZhu f眉r diesen Grace-Period nicht berechtigt, da es bereits am 1. Juli 2024 einen Reverse Stock Split durchgef眉hrt hat. Das Unternehmen hat bis zum 20. Februar 2025 Zeit, um die Delisting-Entscheidung bei einem Anh枚rungsausschuss anzufechten, was die Aussetzung seiner Wertpapiere vor眉bergehend aufschieben w眉rde. MingZhu beabsichtigt, ein solches Hearing zu beantragen und pr眉ft Optionen zur Wiederherstellung der Compliance, einschlie脽lich der 脺berlegung eines weiteren Reverse Stock Splits, der der Zustimmung der Aktion盲re unterliegt.
- Company still has the opportunity to appeal the delisting determination
- Securities will continue trading on Nasdaq during the appeal process
- Received delisting notice from Nasdaq
- Stock trading below $1 for 30 consecutive business days
- Previous reverse stock split in July 2024 failed to maintain compliance
- Potential additional reverse stock split may lead to further share dilution
Insights
The delisting notice from Nasdaq represents a severe setback for MingZhu Logistics, particularly concerning given their July 2024 reverse stock split failed to sustainably maintain the required minimum bid price. This situation is notably more critical than a standard delisting warning, as the company is ineligible for the usual 180-day compliance period due to the recent reverse split.
The market's reaction to the previous reverse split has been decisively negative, with the stock price falling below
The upcoming appeal process, while providing temporary relief through continued listing during the hearing period, presents significant risks. Historical patterns show that companies facing delisting after a failed reverse split have success in maintaining their listing long-term without substantial operational improvements. For existing shareholders, this situation presents heightened liquidity risks, as a potential delisting could result in the stock moving to over-the-counter markets, typically characterized by reduced trading volume and wider bid-ask spreads.
The Company has until February 20, 2025 to request an appeal of the Delisting Determination to the hearing panel. The Company intends to request such hearing to appeal the Delisting Determination before that date, which will stay the suspension of its securities from the date of the request, during which time such securities will continue to be listed on The Nasdaq Capital Market.
The Company is considering all potential options available to it to regain compliance with the aforementioned rules, including seeking shareholders' approval for a reverse stock split.
About MingZhu Logistics Holdings Limited (Nasdaq: )
Established in 2002 and headquartered in
Forward-Looking Statements
The statements in this press release regarding the Company's future expectations, plans and prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding plans, goals, objectives, strategies, future events, expected performance, assumptions and any other statements of fact that have not occurred. Any statements that contain the words "may", "will", "want", "should", "believe", "expect", "anticipate", "estimate", "calculate" or similar statements that are not factual in nature are to be considered forward-looking statements. Actual results may differ materially from historical results or from those expressed in these forward-looking statements as a result of a variety of factors. These factors include, but are not limited to, the Company's strategic objectives, the Company's future plans, market demand and user acceptance of the Company's products or services, technological advances, economic trends, the growth of the trucking services market in听China, the Company's reputation and brand, the impact of industry competition and bidding, relevant policies and regulations, fluctuations in听China's听macroeconomic conditions, and the risks and assumptions disclosed in the Company's reports provided to the CSRC (China Security Regulatory Commission). For these and other related reasons, we advise investors not to place any reliance on these forward-looking statements, and we urge investors to review the Company's relevant SEC filings for additional factors that may affect the Company's future results of operations. The Company undertakes no obligation to publicly revise these forward-looking statements subsequent to the filing of these documents as a result of changes in particular events or circumstances.听
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SOURCE MingZhu Logistics Holdings Limited
FAQ
Why did YGMZ receive a delisting notice from Nasdaq in February 2025?
What is the deadline for YGMZ to appeal the Nasdaq delisting determination?
Will YGMZ stock continue trading on Nasdaq after receiving the delisting notice?
What options is YGMZ considering to maintain Nasdaq listing?
Why wasn't YGMZ given the standard 180-day compliance period?
