UTime Limited Receives 180-day Extension from Nasdaq to Meet Minimum Bid Price Rule
UTime Limited - Ordinary Shares (WTO)
Company Research
Source: GlobeNewswire
NEW YORK, March 04, 2024 (GLOBE NEWSWIRE) -- UTime Limited (“UTime” or the “Company”) (Nasdaq: UTME), a mobile device manufacturing company committed to providing cost effective products and solutions to consumers globally and helping low-income individuals from established and emerging markets, today announced that on February 28, 2024, the Company received a written notification from the Nasdaq's Listing Qualifications Department, granting the Company another 180 calendar days extension, or until August 26, 2024, to regain compliance with Nasdaq’s minimum bid price requirement. The Company can cure this deficiency if the closing bid price of its ordinary shares is $1.00 per share or higher for at least 10 consecutive business days during this second compliance period. The Company intends to regain compliance with the minimum bid price requirement on or before August 26, 2024 and is considering all available options, including a reverse stock split if necessary. During
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