05/20/2026 | Press release | Distributed by Public on 05/20/2026 12:08
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
As previously disclosed, on November 19, 2025, Singularity Future Technology Ltd. (the "Company") received a staff determination notice (the "Notice") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq"), informing the Company that its common stock, no par value (the "Common Stock"), fails to comply with the $1 minimum bid price required for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) for the 30 consecutive business days prior to the date of the Notice. Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company was provided with an initial compliance period of 180 calendar days, or until May 18, 2026, to regain compliance with the minimum bid price requirement.
On May 19, 2026, the Company was granted an additional 180-day compliance period, or until November 16, 2026 (the "Compliance Date"), to regain compliance with the minimum bid price requirement, based on the Company's compliance with all other continued listing requirements for the Nasdaq Capital Market, except for the bid price requirement, and the fact the Company provided written notice to Nasdaq of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary.
To regain compliance, the closing bid price of the Common Stock must meet or exceed $1.00 per share for a minimum of ten consecutive business days prior to the Compliance Date. If the Company does not regain compliance by the Compliance Date, Nasdaq will provide written notification that the Company's securities are subject to delisting. At that time, the Company would have the right to appeal the determination to a Nasdaq Hearings Panel.
The Company intends to monitor the closing bid price of the Common Stock and may, if appropriate, consider implementing available options to regain compliance with the minimum bid price requirement under the Nasdaq Listing Rules.