Welcome to our dedicated page for Caravelle International Group Ordinary Shares news (Ticker: CACO), a resource for investors and traders seeking the latest updates and insights on Caravelle International Group Ordinary Shares stock.
Caravelle International Group (CACO) delivers innovative ocean technology solutions through its dual focus on international shipping services and proprietary CO-Tech wood drying systems. This news hub provides stakeholders with essential updates about the company’s operational milestones, strategic partnerships, and technological advancements.
Access timely reports on earnings announcements, maritime logistics innovations, and cross-sector collaborations. Track developments in CACO’s manganese ore transportation agreements and Gabon timber processing initiatives. Discover how the company’s CO-Tech division transforms shipping operations into sustainable wood drying opportunities.
This resource serves investors and industry observers seeking to monitor CACO’s progress in optimizing global supply chains through integrated shipping-tech solutions. Bookmark this page for direct access to verified press releases and objective analysis of Caravelle’s market position within the maritime technology sector.
Caravelle International Group, a global ocean technology company listed on NASDAQ, has announced a change in its ticker symbol. Effective September 30, 2024, the company's ordinary shares will trade under the new ticker symbol 'HTCO', replacing the current 'CACO' which has been in use since its de-SPAC transaction in 2022.
The change will occur prior to market open on the specified date. Shareholders are not required to take any action regarding this change. The company's ordinary shares will continue to be listed on NASDAQ, and both the CUSIP and ISIN will remain unchanged.
Caravelle International Group (Nasdaq: CACO) reported its financial results for fiscal year 2023, ending October 31. The company faced challenges in the shipping industry and increased post-listing costs, resulting in:
- Revenue of $95.3 million, down 48.6% from $185.3 million in FY 2022
- Net loss of $15.8 million, compared to a net income of $23.6 million in FY 2022
- Earnings per share of -$0.18, down from $0.24 in FY 2022
CEO Hanxi Chang stated that despite challenges, the company adjusted its strategy, strengthened client relationships, and is exploring innovative approaches to create long-term shareholder value while demonstrating social responsibility.
Caravelle International Group (Nasdaq: CACO) has announced agreements to terminate the Securities Purchase Agreement dated January 5, 2024. The company will buy back a $1.5 million Senior Secured Convertible Promissory Note and cancel the investors' rights to purchase certain Common Shares. As part of the settlement, Caravelle will pay $1.375 million and issue 300,000 ordinary shares to the investors. Upon execution, all terms and provisions under the original agreement will be automatically terminated, including the cancellation of Warrants. Management believes this settlement will support the company's growth.
Caravelle International Group has received a Nasdaq notification regarding a minimum bid price deficiency. The company's stock closing bid price has been below the required $1.00 per share for 33 consecutive business days. Caravelle has been given a 180-day compliance period, until January 22, 2025, to regain compliance by maintaining a closing bid price of at least $1.00 for a minimum of ten consecutive business days.
If compliance is not achieved within this period, the company may be eligible for an additional 180-day extension, provided it meets certain criteria. Caravelle's stock will continue to trade on the Nasdaq Capital Market under the symbol "CACO" during this time. The company is actively monitoring the situation and considering options to resolve the deficiency.
Caravelle International Group (Nasdaq:CACO) has regained compliance with Nasdaq's Minimum Bid Requirement as its share price remained at or above $1.00 for 17 consecutive business days from May 15 to June 7, 2024. On June 10, 2024, Nasdaq confirmed the company met this requirement, closing the compliance issue. Additionally, Nasdaq granted Caravelle an exception to file its annual report for the fiscal year ending October 31, 2023, by September 10, 2024. Caravelle is committed to timely submissions and maintaining its Nasdaq listing status.
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