Benzinga | Dec 10, 2021 04:34PM EST

PINTEC Reports Received Nasdaq Notification Related To Minimum Bid Price Compliance; Co. Has Til Jun. 6, 2022 To Regain Compliance

Pintec Technology Holdings Limited (NASDAQ:PT) ("PINTEC" or the "Company"), a leading independent technology platform enabling financial services in China, today announced that it received notification from NASDAQ Listing Qualifications ("NASDAQ") on December 9, 2019 that it is not in compliance with the minimum bid price requirement set forth in Listing Rules for continued listing on the NASDAQ Stock Exchange as the closing price of the Company's ADSs have been less than US$1 over a consecutive 30-trading-day period.

In accordance with Listing Rule 5810(c)(3)(A), the Company has a period of 180 calendar days from the date of notification, being until June 6, 2022, to regain compliance with the minimum bid price. In order to regain compliance, the Company's ADSs must have a closing bid price of at least US$1 for a minimum of 10 consecutive trading days. In the event that the Company does not regain compliance during the first notice period of 180 calendar days, or by June 6, 2022, the Company may be eligible for additional time to regain compliance or may face delisting from the exchange.

The Company is currently in compliance with all other NASDAQ continued listing standards. The NASDAQ notification does not affect the Company's business operations or its Securities and Exchange Commission reporting requirements.