Springview Holdings Receives Nasdaq Notification Regarding Minimum Bid Requirement

Rhea-AI Summary

Springview Holdings (Nasdaq: SPHL), a Singapore-based construction company, has received notification from Nasdaq regarding non-compliance with the minimum bid price requirement. The company's shares traded below $1.00 for 30 consecutive business days from March 13 to April 24, 2025.

Key points:

• Trading will continue uninterrupted under ticker "SPHL"
• Company has until October 22, 2025 to regain compliance
• Compliance requires maintaining $1.00+ share price for 10 consecutive business days
• Additional 180-day grace period may be available if needed

The company, established in 2002, designs and constructs residential and commercial buildings in Singapore. Management is actively monitoring the situation and considering all options to meet Nasdaq requirements, including potential reverse stock split if necessary.

Positive

• No immediate effect on Nasdaq listing - shares continue trading uninterrupted
• Company eligible for additional 180-day grace period if initial compliance period fails
• Long operating history since 2002 in Singapore construction sector

Negative

• Stock price below $1.00 for 30 consecutive business days
• Non-compliance with Nasdaq minimum bid requirement
• May need reverse stock split to maintain listing
• Risk of potential delisting if compliance not achieved by October 22, 2025

Insights

Financial Market Compliance Analyst

Springview faces potential Nasdaq delisting after trading below $1.00 for 30 days, creating regulatory uncertainty and possible shareholder dilution.

Springview Holdings has received a Nasdaq deficiency notification for failing to maintain the minimum bid price requirement of $1.00 per share over 30 consecutive business days from March 13 to April 24, 2025. This represents a significant regulatory challenge that could impact the company's market status.

The company now enters a structured compliance process with several key implications:

• A 180-day compliance window until October 22, 2025 during which they must regain compliance
• Compliance is achieved if shares close at or above $1.00 for at least 10 consecutive business days
• Possibility of an additional 180-day extension if they meet other Nasdaq Capital Market listing requirements
• Continued trading under ticker "SPHL" during the compliance period

The company's statement that it's "actively considering all available options" suggests potential corporate actions ahead. The most common remedy in these situations is implementing a reverse stock split, which mechanically increases share price without changing overall company valuation. Such actions, while maintaining listing compliance, are often viewed unfavorably by investors as they can signal underlying weakness.

For Singapore-based Springview, maintaining Nasdaq listing provides crucial access to US capital markets, trading liquidity, and institutional investors. The notification itself doesn't indicate operational problems at the construction company, but prolonged share price weakness requires resolution to avoid potential delisting in October 2025 or later if granted an extension.

Singapore, April 29, 2025 (GLOBE NEWSWIRE) -- Springview Holdings Ltd (Nasdaq: SPHL) (“Springview Holdings”, or the “Company”), a company which designs and constructs residential and commercial buildings in Singapore with an operating history dating back to 2002, today announced that on April 25, 2025, it received a letter from The Nasdaq Stock Market LLC ("Nasdaq"), notifying the Company that it is currently not in compliance with the minimum bid price requirement set forth under Nasdaq Listing Rule 5550(a)(2). It resulted from the fact that the closing bid price of the Company's ordinary shares was below $1.00 per share for a period of 30 consecutive business days from March 13, 2025 to April 24, 2025. This press release is issued pursuant to Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification. The notification has no immediate effect on the listing of the Company's ordinary shares, which will continue to trade uninterrupted on Nasdaq under the ticker “SPHL”.

Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has a compliance period of 180 calendar days, or until October 22, 2025 (the “Compliance Period”), to regain compliance with Nasdaq’s minimum bid price requirement. If at any time during the Compliance Period, the closing bid price per share of the Company's ordinary shares is at least $1.00 for a minimum of 10 consecutive business days, Nasdaq will provide the Company a written confirmation of compliance and the matter will be closed.

In the event the Company does not regain compliance with the minimum bid price requirement within 180 calendar days or by October 22, 2025, the Company may be eligible for an additional 180 calendar day grace period. To qualify, the Company will be required to meet continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the bid price requirement and will need to provide written notice to Nasdaq of its intention to cure the deficiency during the second compliance period, which may include implementing a reverse stock split if necessary.

The Company is actively monitoring the bid price of its ordinary shares and is considering all available options to regain compliance with Nasdaq’s requirements. The Company remains committed to delivering value to its shareholders and maintaining its listing on Nasdaq.

About Springview Holdings Ltd

Springview Holdings Ltd (Nasdaq: SPHL) designs and constructs residential and commercial buildings in Singapore, with an operating history dating back to 2002. Springview’s projects cover four main types of work: new construction, reconstruction, additions and alterations, and other general contracting services. With a skilled team of in-house experts, the Company provides a one-stop solution that fosters strong customer relationships, offering a comprehensive range of services such as design, construction, furniture customization and project management. The Company also offers post-project services, including defect repairs and maintenance, that further enhances its customer engagement and future project opportunities. For more information, please visit the Company’s website: https://ir.springviewggl.com/

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release are “forward-looking statements” as defined under the federal securities laws, including, but not limited to, statements regarding the use of proceeds from the sale of the Company’s shares in the Offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “believe”, “plan”, “expect”, “intend”, “should”, “seek”, “estimate”, “will”, “aim” and “anticipate”, or other similar expressions in this press release. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

For more information, please contact:

Springview Holdings Ltd
Investor Relations Department
Email: ir@springviewggl.com

FAQ

Why did Springview Holdings (SPHL) receive a Nasdaq delisting warning in April 2025?

Springview Holdings received a Nasdaq notification on April 25, 2025, because its stock price remained below $1.00 for 30 consecutive business days from March 13 to April 24, 2025, violating the minimum bid requirement under Nasdaq Rule 5550(a)(2).

What is the deadline for Springview Holdings (SPHL) to meet Nasdaq's minimum bid requirement?

Springview Holdings has until October 22, 2025 (180 calendar days) to regain compliance by maintaining a closing bid price of at least $1.00 for a minimum of 10 consecutive business days.

Will Springview Holdings (SPHL) stock continue trading on Nasdaq after the notification?

Yes, Springview Holdings stock will continue trading uninterrupted on Nasdaq under ticker SPHL, as the notification has no immediate effect on the company's listing status.

What happens if SPHL stock doesn't reach $1 by October 22, 2025?

If SPHL doesn't comply by October 22, 2025, they may be eligible for an additional 180-day grace period if they meet other Nasdaq Capital Market listing requirements and provide written notice of their intention to cure the deficiency.

How can Springview Holdings (SPHL) regain Nasdaq compliance?

Springview Holdings can regain compliance if its closing bid price stays at $1.00 or above for at least 10 consecutive business days during the compliance period. The company may consider options including a reverse stock split.