BIT Mining Not Compliant With NYSE Price Listing Standards
BIT Mining announced that it has received a letter from the New York Stock Exchange (NYSE) stating that it has failed to comply with the prevailing price criteria in the NYSE’s continuing listing standard.
BIT Mining Violates NYSE’s Price Standard
Bit Mining Technology-based leading cryptocurrency mining company, announced today that it received a letter from the New York Stock Exchange (NYSE), on July 29, 2022.
In its notice to the Company, the NYSE stated that it did not comply with the applicable price criteria (“Price Criteria”) in the NYSE’s continuing listing standard because as of July 28, 2022, the closing price average of the Company’s United States Depository Shares (“ADS”) is less than US$1.00 per ADS over a period of 30 consecutive trading days.
The company notified the NYSE on August 4, 2022 of its intention to correct the shortfall.
During the Cure Period, the Company’s ADSs will continue to be listed and traded on the NYSE, subject to compliance with other NYSE continued listing standards and other rights of the NYSE to delist the ADSs. The Company is currently in compliance with all other NYSE continued listing standards. The NYSE notice does not affect the Company’s business operations, its U.S. Securities and Exchange Commission reporting requirements or contractual obligations.
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