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Wunong Net Technology Co. Ltd. (Nasdaq: WNW) announced on May 19, 2021, that it has received notification from Nasdaq for non-compliance with Listing Rule 5250(c)(1) due to failure to file its annual report on Form 20-F for the year ended December 31, 2020. The Company has 60 days to submit a plan for compliance. Wunong aims to file its annual report by June 30, 2021, to meet the compliance requirements. Should the plan be accepted, Wunong could receive an extension of up to 180 days to regain compliance.
Wunong Net Technology Co. Ltd. has priced its initial public offering (IPO) of 5,000,000 ordinary shares at $5.00 each, aiming for $25,000,000 in gross proceeds. The underwriters also acquired 999,910 shares from a selling shareholder, bringing total gross proceeds to $29,999,550. Trading on the Nasdaq under the symbol WNW begins on December 15, 2020, with the offering expected to close on December 17, 2020. Boustead Securities and Brilliant Norton are the lead underwriters for this firm commitment offering.