Hexindai Receives NASDAQ Notification Regarding Minimum Bid Price Compliance
Xiaobai Maimai Inc. - American Depositary Shares (HX)
NASDAQ:AMEX Investor Relations:
ir.hexindai.com
Company Research
Source: PR Newswire
BEIJING, Dec. 19, 2019 /PRNewswire/ -- Hexindai Inc. (NASDAQ: HX) ("Hexindai" or the "Company"), a fast-growing consumer lending marketplace in China, today announced that it received notification from NASDAQ Listing Qualifications ("NASDAQ") on December 16, 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 15, 2020, 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 15, 2020, the C
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