RegulatoryMay 13, 2026, 05:07 PM
Megan Holdings Notifies Nasdaq Minimum Bid Price Deficiency
AI Summary
Megan Holdings Limited announced it received a notification from Nasdaq on May 12, 2026, indicating non-compliance with the minimum bid price requirement. The company's Class A Ordinary Shares traded below $1.00 for 30 consecutive business days. Megan Holdings has been granted a 180-calendar-day period, until November 9, 2026, to regain compliance by maintaining a closing bid price of at least $1.00 for ten consecutive business days. The company is actively monitoring its share price and considering all options to maintain its Nasdaq listing.
Key Highlights
- Megan Holdings received a Nasdaq notification on May 12, 2026, regarding non-compliance with the minimum bid price requirement.
- Nasdaq Listing Rule 5550(a)(2) requires a minimum bid price of $1.00 per share.
- The company's Class A Ordinary Shares failed to maintain $1.00 for 30 consecutive business days from March 30 to May 11, 2026.
- Megan Holdings has a 180-calendar-day compliance period until November 9, 2026, to regain compliance.
- To regain compliance, the closing bid price must be at least $1.00 for a minimum of ten consecutive business days.
- If unable to comply, the company may be eligible for additional time if it meets other listing standards and provides notice, potentially including a reverse stock split.
Price Impact
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