GSMG - Glory Star New Media receives Nasdaq notice on non-compliance

2023-03-27 10:32:06 ET

• Chinese e-commerce company Glory Star New Media Group Holdings ( NASDAQ: GSMG ) said on Monday that it has received a Nasdaq notice on non-compliance with the stock exchange's minimum bid price requirement.
• Based on the closing bid price of the company's listed securities for the last 30 consecutive business days from Feb. 7 to Mar. 21, the company is said to no longer meet the listing requirement of $1.00 per share.
• The company shares are currently trading at $0.70 per share.
• GSMG has a period of 180 calendar days, or until Sep. 18, to regain compliance with the listing rules.
• The company's listed securities must be at least $1.00 for a minimum of ten consecutive business days.
• Glory Star New Media said it will evaluate its available options to regain compliance.
• Source: Press Release

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