EUDA Health Holdings Limited Has Regained Compliance with Nasdaq Capital Market’s Continued Listing Requirements

Rhea-AI Summary

EUDA Health Holdings regains compliance with Nasdaq listing requirements

Positive

• The Company's common stock maintained a closing bid price of $1.00 per share or greater for 10 consecutive business days, meeting the Minimum Bid Price Requirement
• The Company's market value of listed securities was $35 million or greater for 10 consecutive business days, meeting the MVLS Requirement

Negative

• None.

Singapore, Sept. 22, 2023 (GLOBE NEWSWIRE) -- As previously disclosed, EUDA Health Holdings Limited (“EUDA” and the “Company”) received a written notice from Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) on August 10, 2023 indicating that the Company was not in compliance with the $1.00 Minimum Bid Price requirement set forth in the Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market (the “Bid Price Requirement”). On September 14, 2023, the Company received a written notice from Nasdaq stating that the closing bid price of the Company’s common stock has been at $1.00 per share or greater for 10 consecutive business days from August 30 to September 13, 2023, and therefore the Company has regained compliance with the $1.00 Minimum Bid Price Requirement for continued listing on The Nasdaq Capital Market.

As previously disclosed, the Company received a written notice from Nasdaq on July 31, 2023 indicating that the Company had failed to maintain a minimum market value of listed securities of $35 million over the previous 30 consecutive business days (the “MVLS Requirement”) as required by the Nasdaq Listing Rule 5550(b)(2). On September 20, 2023, the Company received a written notice from Nasdaq stating that the Company’s market value of listed securities has been $35 million or greater for 10 consecutive business days from September 6 to September 19, 2023, and therefore the Company has regained compliance with the MVLS Requirement for continued listing on The Nasdaq Capital Market.

All matters relating to the Company’s previous non-compliance with the Nasdaq Capital Market’s continued listing rules are now closed.

For investor and media inquiries, please contact:
Dr. Kelvin Chen
Chief Executive Officer
EUDA Health Holdings Limited
+65 6268 6821
kelvin@euda.com