Kaixin auto holdings announces receipt of nasdaq letter regarding second minimum bid price compliance period

Beijing, march 29, 2023 (globe newswire) -- kaixin auto holdings ("kaixin" or the "company") (nasdaq: kxin) today announced the receipt of a notification letter (the “nasdaq letter”) dated on march 28, 2023 from the listing qualifications department of the nasdaq stock market (“nasdaq”), notifying kaixin that, as of march 28, 2023, the company's listed security has not regained compliance with the requirement of maintaining a minimum bid price of $1 per share pursuant to nasdaq rule 5550(a)(2). however, the nasdaq staff has determined that the company is eligible for an additional 180 calendar day period, or until september 25, 2023, to regain compliance pursuant to nasdaq rule 5810(c)(3)(a).
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