OFA Group (NASDAQ: OFAL) gets Nasdaq notice on sub-$1.00 bid price
Rhea-AI Filing Summary
OFA Group reports that it has received a notice from Nasdaq stating that the closing bid price of its Class A ordinary shares has stayed below $1.00 for 30 consecutive business days, which does not meet Nasdaq Listing Rule 5550(a)(2) for minimum bid price. The shares will continue to trade on The Nasdaq Capital Market under the symbol "OFAL" and are not being immediately delisted.
The company has a 180‑day compliance period, until June 9, 2026, to regain compliance. If the closing bid price is at least $1.00 for at least ten consecutive business days during this period, Nasdaq will confirm compliance and close the matter. If compliance is not regained by that date, OFA Group may qualify for an additional 180‑day grace period if it meets other Nasdaq Capital Market listing standards and indicates how it plans to cure the deficiency, including potentially using a reverse stock split.
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- None.
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- Nasdaq minimum bid price deficiency: OFA Group’s Class A ordinary shares traded below $1.00 for 30 consecutive business days, triggering a Nasdaq non‑compliance notice and starting a 180‑day cure period ending June 9, 2026.
Insights
Nasdaq bid-price deficiency puts OFAL’s listing status at risk if not cured.
OFA Group has fallen out of compliance with Nasdaq’s minimum bid price rule because its Class A ordinary shares closed below $1.00 for 30 consecutive business days. This triggers a formal deficiency notice but does not cause immediate delisting, and trading on The Nasdaq Capital Market under the symbol "OFAL" continues.
The company has 180 calendar days, until June 9, 2026, to bring the closing bid back to at least $1.00 for a minimum of ten consecutive business days. If it succeeds, Nasdaq will issue written confirmation that the company is back in compliance and the issue will be closed, so the main execution risk is sustaining that threshold over the required trading days.
If compliance is not achieved by June 9, 2026, OFA Group may still obtain a second 180‑day grace period, but only if it meets all other initial listing standards for The Nasdaq Capital Market, including the market value of publicly held shares, and formally states its plan to cure the deficiency, which may include a reverse stock split. The actual outcome will depend on future share price performance and any corporate actions the company chooses to pursue.
FAQ
What Nasdaq issue did OFA Group (OFAL) disclose in this Form 6-K?
OFA Group disclosed that Nasdaq notified the company its Class A ordinary shares failed to meet the minimum bid price requirement of $1.00 per share for 30 consecutive business days under Nasdaq Listing Rule 5550(a)(2).
Is OFA Group (OFAL) being immediately delisted from Nasdaq?
No. The notification letter does not result in the immediate delisting of OFA Group’s Class A ordinary shares, and they will continue to trade on The Nasdaq Capital Market under the symbol "OFAL".
How long does OFA Group have to regain Nasdaq minimum bid price compliance?
OFA Group has a 180‑day compliance period, until June 9, 2026, to regain compliance by having a closing bid price of at least $1.00 per share for a minimum of ten consecutive business days.
Can OFA Group receive more time beyond June 9, 2026 to fix the Nasdaq bid price issue?
The company may be eligible for an additional 180‑day grace period if, by June 9, 2026, it meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, except the bid price requirement, and provides written notice of its intention to cure the deficiency.
What options did OFA Group mention to cure the Nasdaq bid price deficiency?
OFA Group stated that, to cure the deficiency during a potential second compliance period, it may take actions including effecting a reverse stock split, if necessary, as part of its plan to restore compliance.
Did OFA Group issue a press release about the Nasdaq minimum bid price notice?
Yes. On December 17, 2025, OFA Group issued a press release titled “OFA Group Receives Nasdaq Notification Letter Regarding Minimum Bid Price Deficiency,” which is filed as Exhibit 99.1 and incorporated by reference.