Tian ruixiang holdings ltd receives nasdaq notice of deficiency regarding minimum bid price requirement

Beijing, dec. 05, 2023 (globe newswire) -- tian ruixiang holdings ltd (nasdaq: tirx) (the "company"), a china-based insurance broker conducting business through its variable interest entity in china, today announced that on november 30, 2023, it received a written notice (the "notice") from the listing qualifications department of the nasdaq stock market llc ("nasdaq"), indicating that the company is not in compliance with the minimum bid price requirement of us$1.00 per share under the nasdaq listing rules (the "listing rules"). based on the closing bid price of the company's class a ordinary shares for the last 30 consecutive business days from october 17, 2023 to november 29, 2023, the company no longer meets the minimum bid price requirement set forth in listing rule 5550(a)(2). the notice does not impact the company's listing on the nasdaq capital market at this time. in accordance with listing rule 5810(c)(3)(a), the company has been provided 180 calendar days, or until may 28, 2024, to regain compliance with listing rule 5550(a)(2). to regain compliance, the company's class a ordinary shares must have a closing bid price of at least us$1.00 for a minimum of 10 consecutive business days. in the event the company does not regain compliance by may 28, 2024, the company may be eligible for additional time to regain compliance or may face delisting.
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