J-Star Holding (NASDAQ: YMAT) receives Nasdaq minimum bid price warning

Rhea-AI Filing Summary

J-Star Holding Co., Ltd. reports that it received a notice from Nasdaq stating its Class A ordinary shares failed to meet the $1.00 minimum bid price for 30 consecutive business days, breaching Nasdaq Listing Rule 5550(a)(2). The notice does not cause immediate delisting, and the shares continue trading on Nasdaq under the symbol YMAT.

The company has a 180-day compliance period, until June 10, 2026, to regain compliance by maintaining a closing bid price of at least $1.00 for a minimum of 10 consecutive business days. If it does not regain compliance by that date, it may qualify for an additional 180-day grace period if other listing standards are met and it indicates an intention to cure the deficiency, potentially including a reverse stock split completed at least 10 business days before June 10, 2026, or the end of any extended period. The company also issued a related press release furnished as Exhibit 99.1.

Positive

• None.

Negative

• Nasdaq minimum bid price deficiency notice for YMAT increases the risk to the company’s continued Nasdaq listing if compliance is not regained by June 10, 2026.

Insights

Equity listing and market structure analyst

Nasdaq bid-price noncompliance introduces listing risk if not cured by June 2026.

J-Star Holding discloses that its YMAT Class A ordinary shares have traded below the $1.00 minimum bid for 30 consecutive business days, placing it out of compliance with Nasdaq Listing Rule 5550(a)(2). While there is no immediate delisting, the company now operates under a defined cure timetable that can affect how investors view liquidity and trading venue stability.

The company has 180 calendar days, through June 10, 2026, to lift its closing bid to at least $1.00 for 10 consecutive business days. If it fails, it may still obtain a second 180-day period, provided it meets other initial listing standards and the required market value of publicly held shares. The disclosure that a reverse stock split may be used, and must be completed at least 10 business days before the end of the relevant period, highlights that the primary levers are price-based rather than operational.

Overall, this development is adverse because it formally flags a risk to the company’s continued Nasdaq listing if compliance is not restored within the allowed windows. Actual outcomes will depend on whether the share price meets the Nasdaq thresholds within the current or any additional compliance period described.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of December 2025.

Commission File Number 001-42767

J-Star Holding Co., Ltd.

(Translation of registrant’s name into English)

7/F-1, No. 633, Sec. 2, Taiwan Blvd.,

Xitun District, Taichung City 407,

Taiwan (R.O.C.)

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F

INFORMATION CONTAINED IN THIS REPORT ON FORM 6-K

Nasdaq Minimum Bid Price Deficiency Letter

J-Star Holding Co., Ltd. received a notice dated December 12, 2025, from the Listings Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that the minimum bid price per share of its Class A ordinary shares was below $1.00 for a period of 30 consecutive business days and that the Company did not meet the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Rule”). The Nasdaq notification letter does not result in the immediate delisting of the Company’s Class A ordinary shares, and the shares will continue to trade uninterrupted under the symbol “YMAT.”

Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has a compliance period of one hundred eighty (180) calendar days, or until June 10, 2026 (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 Class A ordinary shares is at least $1.00 for a minimum of ten (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 by June 10, 2026, the Company may be eligible for an additional 180 calendar day grace period. To qualify, the Company will be required to meet the 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 of its intention to cure the deficiency during the second compliance period, including by effecting a reverse stock split, if necessary. If the Company chooses to implement a reverse stock split, it must complete the split no later than ten (10) business days prior to June 10, 2026, or the expiration of the second compliance period if granted.

This information is being provided solely to comply with NASDAQ Listing Rules requiring public announcement of the Company’s receipt of the letter from NASDAQ.

On December 16, 2025, the Company issued a press release entitled “J-Star Announces Receipt of Nasdaq Notification Letter Regarding Minimum Bid Price Deficiency” A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference

EXHIBIT INDEX

Exhibit No.		Description
99.1		Press Release dated December 16, 2025

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: December 16, 2025	J-Star Holding Co., Ltd.
	By:	/s/ Sam Van
	Name:	Sam Van
	Title:	Chief Executive Officer

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FAQ

What did J-Star Holding (YMAT) disclose in this 6-K filing?

J-Star Holding disclosed that it received a Nasdaq notice that its Class A ordinary shares failed to meet the $1.00 minimum bid price for 30 consecutive business days, placing the company out of compliance with Nasdaq Listing Rule 5550(a)(2).

Does the Nasdaq minimum bid price notice mean YMAT is being delisted immediately?

No. The notice does not result in immediate delisting, and J-Star Holding’s Class A ordinary shares will continue to trade on Nasdaq under the symbol YMAT while the company works to regain compliance.

How can J-Star Holding regain compliance with Nasdaq’s minimum bid price rule?

J-Star Holding can regain compliance if, during the compliance period, the closing bid price of its Class A ordinary shares is at least $1.00 for a minimum of 10 consecutive business days, after which Nasdaq would confirm compliance in writing.

What is the deadline for J-Star Holding (YMAT) to fix the bid price deficiency?

The company has a 180 calendar day compliance period, ending on June 10, 2026, to restore compliance with Nasdaq’s minimum bid price requirement for its Class A ordinary shares.

Can J-Star Holding get more time if it does not meet the bid price requirement by June 10, 2026?

If J-Star Holding does not regain compliance by June 10, 2026, it may be eligible for an additional 180-day grace period, provided it meets the market value of publicly held shares requirement and all other initial listing standards for the Nasdaq Capital Market, aside from the bid price rule.

Is J-Star Holding considering a reverse stock split to address the Nasdaq deficiency?

The filing states that to cure the deficiency during a second compliance period, the company may include effecting a reverse stock split, which would need to be completed no later than 10 business days before June 10, 2026 or the end of any extended period, if granted.

What additional disclosure did J-Star Holding make about this Nasdaq notice?

J-Star Holding reported that on December 16, 2025, it issued a press release titled “J-Star Announces Receipt of Nasdaq Notification Letter Regarding Minimum Bid Price Deficiency,” furnished as Exhibit 99.1 to this report and incorporated by reference.