Erayak power solution group inc. announces receipt of nasdaq minimum bid price notification

Wenzhou, china , nov. 20, 2023 /prnewswire/ -- erayak power solution group inc. ("erayak" or the "company") (nasdaq: raya), a leading manufacturer, designer, and exporter of high-quality products in the power supply industry, announced today that on november 15, 2023, the company received a letter from the nasdaq listing qualifications, indicating that the company is not in compliance with the minimum bid price requirement for continued listing set forth in listing rule 5550(a)(2), which requires listed securities to maintain a minimum bid price of $1.00 per share. pursuant to nasdaq listing rule 5810(c)(3)(a), the company has been granted a 180-calendar day compliance period, or until may 13, 2024, to regain compliance with the minimum bid price requirement.
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