Garden Stage Limited Regains Compliance with Nasdaq Minimum Bid Price Listing Requirements

Rhea-AI Summary

Garden Stage Limited (NASDAQ: GSIW) has successfully regained compliance with Nasdaq's minimum bid price requirement. The company had received a delinquency notification on December 24, 2024, as its closing bid price remained below $1.00 per share for 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2).

GSIW was given until June 23, 2025 to meet the compliance requirement of maintaining a minimum bid price of $1.00 per share. The company successfully met this requirement on the deadline date, receiving confirmation from Nasdaq's Listing Qualifications Department on June 24, 2025.

Positive

• Successfully regained Nasdaq listing compliance
• Met compliance requirements before the deadline
• Maintained $1.00 minimum share price requirement

Negative

• Previously faced potential delisting risk due to low share price
• Required 6-month recovery period to meet compliance

Hong Kong, June 24, 2025 (GLOBE NEWSWIRE) -- Garden Stage Limited (NASDAQ: GSIW) (“GSIW” or the “Company”), today announced that on June 23, 2025, the Company received written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) that the Company has regained compliance with the minimum closing bid price requirement under Nasdaq Listing Rule 5550(a)(2).

As previously disclosed , the company received a delinquency notification letter (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) on December 24, 2024 indicating that the Company is not currently in compliance with the minimum bid price requirement set forth in Nasdaq’s Listing Rules for continued listing on the Nasdaq Capital Market, as the closing bid price for the Company’s ordinary shares listed on the Nasdaq Capital Market was below $1.00 per share for 30 consecutive business days. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of $1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. The Notice provides that the Company has a period of 180 calendar days from the date of the Notice, or until June 23, 2025, to regain compliance with the minimum bid price requirement. This requirement was met on June 23, 2025.

About Garden Stage Limited

GSIW, through our Operating Subsidiaries, are a Hong Kong-based financial services provider principally engaged in the provision of (i) placing and underwriting services; (ii) securities dealing and brokerage services; (iii) asset management services; and (iv) investment advisory services. Our operation is carried out through our wholly-owned Operating Subsidiaries: a) I Win Securities Limited, which is licensed to conduct Type 1 (dealing in securities) regulated activities under the SFO in Hong Kong, and b) I Win Asset Management Limited, which is licensed to conduct Type 4 (advising on securities) and Type 9 (asset management) regulated activities under the SFO in Hong Kong. I Win Securities Limited is the Stock Exchange Participant and holds one Stock Exchange Trading Right. I Win Securities Limited is a participant of the HKSCC.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in verbal statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about the Company’s beliefs and expectations, are forward-looking statements. Forward looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. Further information regarding these and other risks is included in the Company's filings with the Securities and Exchange Commission. All information provided in this press release is as of the date of the press release, and the Company undertakes no duty to update such information, except as required under applicable law.

For more information, please contact:

Garden Stage Limited
Chan Sze Ho
Chief Executive Officer
Email: rickychan@iwinsec.com
Tel: (852) 2688 6333

FAQ

Has GSIW regained compliance with Nasdaq listing requirements?

Yes, Garden Stage Limited (GSIW) regained compliance with Nasdaq's minimum bid price requirement on June 23, 2025, meeting the $1.00 per share threshold.

When did GSIW receive the Nasdaq delisting notice?

GSIW received the delinquency notification from Nasdaq on December 24, 2024 after its share price remained below $1.00 for 30 consecutive business days.

What is the minimum bid price requirement for Nasdaq listing?

According to Nasdaq Listing Rule 5550(a)(2), listed securities must maintain a minimum bid price of $1.00 per share to remain compliant.

How long did GSIW have to regain Nasdaq compliance?

GSIW was given 180 calendar days from December 24, 2024, until June 23, 2025, to regain compliance with the minimum bid price requirement.