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Hongli Group (NASDAQ:HLP) has received a deficiency notice from Nasdaq due to non-compliance with the minimum bid price requirement. The company's stock has traded below $1.00 per share for 30 consecutive business days between May 27 and July 9, 2025.
HLP has been granted a 180-day compliance period until January 6, 2026, to regain compliance by maintaining a closing bid price of $1.00 or higher for at least 10 consecutive business days. If unsuccessful, the company may be eligible for an additional 180-day period, provided it meets other Nasdaq Capital Market listing requirements. Options for compliance include implementing a reverse stock split.
Hongli Group Inc. (NASDAQ: HLP) has successfully closed its initial public offering (IPO) of 2,062,500 ordinary shares at a price of $4.00 per share, raising total gross proceeds of $8.25 million. The IPO was conducted on a firm commitment basis, with an underwriter option to purchase an additional 309,375 shares. Trading of the shares began on March 29, 2023. Hongli operates as a holding company and consolidates the financial results of its subsidiary, Shandong Hongli Special Section Tube Co., Ltd., a leading manufacturer of cold roll formed steel profiles in China, serving multiple sectors.
Hongli Group Inc. (NASDAQ: HLP) has priced its initial public offering (IPO) at $4.00 per share, raising $8.25 million in total gross proceeds. The offering consists of 2,062,500 ordinary shares and will close on or about March 31, 2023. The company consolidates results from its subsidiary, Shandong Hongli Special Section Tube Co., Ltd., a leader in cold-rolled steel manufacturing in China. Proceeds from the IPO will support bank loan repayments, asset acquisitions, R&D, and hiring of compliance personnel. The shares are set to trade on the Nasdaq Capital Market starting March 29, 2023.
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