Wetouch Technology Inc.

09/16/2025 | Press release | Distributed by Public on 09/16/2025 11:41

Failure to Satisfy Listing Rule (Form 8-K)

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

Extension of Compliance Period

As previously disclosed, On April 21, 2025, May 27, 2025, and August 21, 2025, WETOUCH TECHNOLOGY INC. (the "Company"), received the notices (the "Delinquency Notification") from the Listing Qualifications Department (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") indicating the Company did not comply with Nasdaq's filing requirements set forth in Listing Rule 5250(c)(1) (the "Rule") because it failed to timely file its Form 10-K for the year ended December 31, 2024 (the "Form 10-K"), Form 10-Q for the period ended March 31, 2025 (the "1st Form 10-Q"), and Form 10-Q for the period ended June 30, 2025 (the "2nd Form 10-Q", together with the 1st Form 10-Q, collectively, the "Delinquent Reports").

The Company submitted compliance plans to the Staff on June 18, 2025, and August 28, 2025.

On September 11, 2025, the Company filed its Form 10-K for the period ending December 31, 2024.

On September 15, 2025, the Company received a letter from Nasdaq, notifying the Company of its review of the Company's compliance plans and granted an extension for the Company to submit the Delinquent Reports by October 13, 2025.

The Company is working diligently to complete its Delinquent Reports and intends to file them as promptly as practicable to regain compliance with the Listing Rule.

Regain Bid Price Compliance

As previously disclosed, on July 15, 2025, the Company received a letter (the "Notice") from the Staff of Nasdaq notifying the Company that, for the last 30 consecutive business days, the bid price for the Company's common stock had closed below $1.00 per share, the minimum closing bid price required by the continued listing requirements of Nasdaq. The Company had a period of 180 calendar days, or until January 12, 2026, to regain compliance with the Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Rule").

On September 15, 2025, the Company received a letter from Nasdaq notifying the Company that the Staff had determined that the closing price of the Company's common stock was $1.00 or greater for the requisite period of time and that the Company had regained compliance with Listing Rule 5550(a)(2) and that the matter was now closed. The Company is now in full compliance with all continued listing standards of the Nasdaq Global Market.

Wetouch Technology Inc. published this content on September 16, 2025, and is solely responsible for the information contained herein. Distributed via SEC EDGAR on September 16, 2025 at 17:41 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]