BEIJING, June 3, 2019 /PRNewswire/ -- Kaixin Auto Holdings
("Kaixin" or the "Company") (NASDAQ: KXIN) announced today receipt
of a delisting notice from The Nasdaq Stock Market LLC ("NASDAQ"),
which informed the Company that, absent an appeal, trading in the
Company's warrants (KXINW) will be suspended from The Nasdaq
Capital Market at the opening of business on June 11, 2019.
The Company received notification on May
31, 2019, indicating that the Company has not demonstrated
that it meets the minimum 400 round lot holder requirement for
initial listing of its warrants, following the completion of the
Company's business combination on April 30,
2019.
This action does not impact listing of the Company's ordinary
shares, which will continue to trade on the NASDAQ.
About Kaixin Auto Holdings
Kaixin Auto Holdings is a leading premium used car dealership
network in China. Supported by the
rapid growth of China's used car
market and leveraging its own hybrid business model that offers
both strong online and offline presence, Kaixin has transformed
from a tech-enabled financing platform into a nationwide dealer
network that combines its own and affiliated dealers as well as
value-added and after-sale services.
Important Notice Regarding Forward-Looking Statements
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the
United States Private Securities Litigation Reform Act of 1995.
These forward-looking statements can be identified by terminology
such as "will," "expects," "anticipates," "future," "intends,"
"plans," "believes," "estimates" and similar statements. Kaixin may
also make written or oral forward-looking statements in its
periodic reports to the SEC, in its annual report to shareholders,
in press releases and other written materials and in oral
statements made by its officers, directors or employees to third
parties. Statements that are not historical facts, including
statements about Kaixin's beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the
following: Kaixin's goal and strategies; Kaixin's expansion plans;
Kaixin's future business development, financial condition and
results of operations; Kaixin's expectations regarding demand for,
and market acceptance of, its products and services; Kaixin's
expectations regarding keeping and strengthening its relationships
with customers, suppliers and other parties it collaborates with;
general economic and business conditions; and assumptions
underlying or related to any of the foregoing. Further information
regarding these and other risks is included in Kaixin's filings
with the SEC. All information provided in this press release and in
the attachments is as of the date of this press release, and Kaixin
does not undertake any obligation to update any forward-looking
statement, except as required under applicable law.
For investor and media inquiries, please contact:
In China:
The Piacente Group, Inc.
Ross Warner
Tel: +86 (10) 6508-0677
Email: Kaixin@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Jean Marie Young
Tel: +1-212-481-2050
Email: Kaixin@tpg-ir.com
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SOURCE Renren Inc.