EpicQuest Education Regains Compliance with Nasdaq Minimum Bid Price Requirement

Rhea-AI Summary

EpicQuest Education Group International (EEIQ), a higher education provider operating in the US, Canada and the UK, has announced its successful compliance with Nasdaq's minimum bid price requirement. The company received official notice from Nasdaq's Listing Qualifications Department on January 8, 2025, confirming that it has regained compliance with Listing Rule 5550(a)(2).

The compliance was achieved as EEIQ's common shares maintained a closing bid price of $1.00 or higher for 20 consecutive business days, spanning from December 9, 2024, to January 7, 2025. With this requirement met, Nasdaq has closed the matter.

Positive

• Regained Nasdaq listing compliance, eliminating immediate delisting risk
• Maintained stock price above $1.00 for 20 consecutive trading days

Negative

• Previous trading below $1.00 indicates recent financial/market challenges

News Market Reaction

-3.88%

1 alert

-3.88% News Effect

On the day this news was published, EEIQ declined 3.88%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

MIDDLETOWN, Ohio, Jan. 10, 2025 /PRNewswire/ -- EpicQuest Education Group International Limited (Nasdaq: EEIQ), ("EpicQuest Education", "EEIQ" or the "Company"), a provider of higher education for domestic and international students in the US, Canada and the UK,  today announced that on January 8, 2025, it received a notice from the Listing Qualifications Department of the Nasdaq Stock Market ("Nasdaq") indicating that the Company has regained with the minimum bid requirement under Listing Rule 5550(a)(2). The notice indicated that as a result of the closing bid price of the Company's common shares having been at $1.00 per share or greater for 20 consecutive business days, from December 9, 2024, to January 7, 2025, the Company has regained compliance with Nasdaq's minimum bid price requirement and the matter is now closed.

About EpicQuest Education Group International Limited

EpicQuest Education Group International Limited ("EpicQuest Education" or the "Company") provides comprehensive education solutions for domestic and international students seeking university and University degrees in the US, Canada and the UK. The Company owns and operates EduGlobal College, based in British Columbia, Canada, which focuses on English proficiency educational programming for students pursuing academic degrees. The Company operates and is a 70% owner of Davis University, a career training university located in Toledo, Ohio. In addition, the Company has a recruiting relationship with the Miami University Regional campuses, where it maintains residential facilities, a full-service cafeteria, recreational facilities, shuttle buses and an office for the regional campuses that provides study abroad and post-study services for its students; these facilities are not owned, maintained, operated or are a part of Miami University. The Company is also a recruiting agent for the University of the West of Scotland (through The Education Group (London) Ltd) and Coventry University, both of which are located in the UK. EpicQuest Education recently established a wholly owned subsidiary, Gilmore Inv LLC ("Gilmore"), in Ohio, that will offer international educational programs related to kinesiology and recreation education. The Company also established a company in Ohio, SouthGilmore LLC that has been formed to organize sports-related entertainment projects, which is 40% owned by Gilmore. For more information, please visit www.epicquesteducation.com/.

Safe Harbor Statement

Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as "may," "will," "anticipate," "assume," "should," "indicate," "would," "believe," "contemplate," "expect," "estimate," "continue," "plan," "point to," "project," "could," "intend," "target" and other similar words and expressions of the future.

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our most recent Form 20-F and otherwise in our SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.

Contacts:

EpicQuest Education Group International Limited
+1 513-649-8350
info@epicquesteducation.com 

Investor Relations:
Precept Investor Relations LLC
David Rudnick
+1 646-694-8538
david.rudnick@preceptir.com

Source: EpicQuest Education Group International Limited

 

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SOURCE EpicQuest Education Group International Limited

FAQ

When did EEIQ regain compliance with Nasdaq's minimum bid price requirement?

EEIQ regained compliance on January 8, 2025, after maintaining a closing bid price of $1.00 or higher for 20 consecutive business days from December 9, 2024, to January 7, 2025.

What is the minimum bid price requirement that EEIQ had to meet for Nasdaq compliance?

EEIQ had to maintain a closing bid price of $1.00 or higher for at least 20 consecutive business days to meet Nasdaq's Listing Rule 5550(a)(2).

What markets does EpicQuest Education Group operate in?

EpicQuest Education Group operates as a higher education provider in the United States, Canada, and the United Kingdom.

What was the trading period during which EEIQ demonstrated compliance?

EEIQ demonstrated compliance during the period from December 9, 2024, to January 7, 2025, maintaining the required bid price for 20 consecutive business days.