Meiwu Technology Company Limited Regains Compliance with Nasdaq Minimum Closing Bid Price Rule

Rhea-AI Summary

Meiwu Technology Company (NASDAQ: WNW) has successfully regained compliance with Nasdaq's minimum bid price requirement. The company received formal notification from Nasdaq confirming compliance with Listing Rule 5550(a)(2), which requires maintaining a minimum bid price of $1.00 per share. This achievement was reached after WNW's ordinary shares maintained a closing bid price of $1.00 or higher for ten consecutive business days from December 6, 2024, to December 20, 2024. With this development, the bid price deficiency matter has been resolved and closed.

Positive

• Regained Nasdaq compliance, eliminating immediate delisting risk
• Maintained $1.00+ share price for 10 consecutive trading days
• Successfully resolved bid price deficiency issue

Negative

• None.

News Market Reaction

-20.55%

1 alert

-20.55% News Effect

On the day this news was published, WNW declined 20.55%, reflecting a significant negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Shenzhen, China, Dec. 26, 2024 (GLOBE NEWSWIRE) -- Meiwu Technology Company Limited (“WNW” or the “Company”), (NASDAQ: WNW) announced today announced that it received a formal notification from the Nasdaq Stock Market LLC (“Nasdaq”) that the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2), which requires the Company’s ordinary shares, no par value each (the “Ordinary Shares”) to maintain a minimum bid price of $1.00 per share.

The Nasdaq staff made this determination of compliance after the closing bid price of the Company’s Ordinary Shares has been at $1.00 per share or greater for the last 10 consecutive business days from December 6, 2024, to December 20, 2024. Accordingly, the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2) and this bid price deficiency matter is now closed.

About Meiwu Technology Company Limited

Meiwu Technology Company Limited (“Meiwu”) is a British Virgin Islands company incorporated on December 4, 2018, with its operations in China through its subsidiaries. Its business includes an online platform for the sales of food products, a short message service (“SMS”) business, and a functional skin care business. Meiwu will continue to explore and implement different strategies to grow its business.

Safe Harbor Statement

Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate other future acquisitions; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting our profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in the Company’s filings with the Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Such information speaks only as of the date of this release.

Contact
Meiwu Technology Company Limited
Xinliang Zhang
Email: meiwuBS@usmeiwu.com

FAQ

What was the minimum bid price requirement that WNW had to meet for Nasdaq compliance?

WNW had to maintain a minimum bid price of $1.00 per share to comply with Nasdaq Listing Rule 5550(a)(2).

How long did WNW need to maintain the $1.00 minimum bid price to regain compliance?

WNW needed to maintain a closing bid price of $1.00 or higher for 10 consecutive business days, which it achieved from December 6 to December 20, 2024.

What does regaining Nasdaq compliance mean for WNW shareholders?

Regaining compliance means WNW has resolved its listing deficiency issue, eliminating the immediate risk of delisting from the Nasdaq exchange.

When did WNW receive formal notification of compliance from Nasdaq?

WNW received formal notification from Nasdaq on December 26, 2024, confirming their compliance with the minimum bid price requirement.