Earlyworks co., ltd. announces receipt of nasdaq delisting determination and plan to request a hearing before the nasdaq hearings panel

Tokyo, may 06, 2024 (globe newswire) -- earlyworks co., ltd. (nasdaq: elws) (the “company” or “earlyworks”), a japanese company operating its proprietary private blockchain technology, grid ledger system (“gls”), today announced that the company received a staff determination letter (the “letter”), on may 1, 2024, from the listing qualifications department of the nasdaq stock market llc (“nasdaq”) notifying the company that, due to the company's failure to regain compliance with a minimum bid price of $1.00 per share requirement for continued listing on the nasdaq capital market, as set forth in nasdaq listing rule 5550(a)(2) (the “minimum bid requirement”), nasdaq has determined (the “determination”) that company's securities will be scheduled for delisting from nasdaq unless the company requests an appeal of the determination to a hearings panel (the “panel”).
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