BRQS - Borqs Technologies receives extension to regain compliance with Nasdaq rules
2023-06-07 09:40:19 ET
- 5G wireless and Internet of Things solutions provider Borqs Technologies ( NASDAQ: BRQS ) said on Wednesday that the company received an extension to regain compliance with Nasdaq's minimum $1 bid price requirement.
- Nasdaq provided to the company a written notice on the grant of extension until Oct. 24 to regain compliance with the stock exchange's rules.
- The extension was granted after the company explained to the Nasdaq Panel that the sale of its solar subsidiary, Holu Hou Energy, may bring forth a significant liquidity and can positively affect the stock price.
- The company also intends to effect a reverse stock split, if necessary.
- BRQS shares were trading -0.14% pre-market.
- Source: Press Release
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Borqs Technologies receives extension to regain compliance with Nasdaq rules