TIRX - Tian Ruixiang gets Nasdaq notification regarding minimum bid price deficiency

Tian Ruixiang (NASDAQ:TIRX) on Monday said it got a notification from Nasdaq that the company was not in compliance with listing rules on minimum bid price requirement. The China-based insurance broker said that based on the closing bid price of its shares for 30 consecutive business days from April 18 to May 27, the company no longer met the minimum bid price requirement. TIRX stock earlier closed +0.2% at $0.70. The company said it had been provided 180 days, or until Nov. 28, to regain compliance. To regain compliance, TIRX's shares must have a closing bid price of at least $1 for a minimum of 10 consecutive business days. Tian said it might consider implementing options such as a reverse stock split to regain compliance.

For further details see:

Tian Ruixiang gets Nasdaq notification regarding minimum bid price deficiency