Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k)
April 28 2023 - 4:37PM
Edgar (US Regulatory)
U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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 April 2023
Commission File Number: 001-34409
RECON TECHNOLOGY, LTD
Room 601, No.1 Shui’an South Street
Chaoyang District
Beijing, 100012
People's Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant files
or will file annual reports under cover of Form 20-F or Form 40-F.
Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(7): ¨
Explanatory Note
On April 27, 2023, the Registrant received a letter
from the Listings Qualifications Department of The Nasdaq Capital Market (“Nasdaq”) notifying the Registrant that the minimum
closing bid price per share for its Ordinary Shares was below $1.00 for a period of 30 consecutive business days and that the Registrant
did not meet the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2). This current report is filed pursuant to Nasdaq
Listing Rule 5810(b). The Nasdaq notification letter does not result in the immediate delisting of the Registrant’s Ordinary Shares,
and the shares will continue to trade uninterrupted under the symbol “RCON.”
Pursuant to Nasdaq Listing Rule 5810(c)(3)(A),
the Registrant has a compliance period of one hundred eighty (180) calendar days, or until October 24, 2023 (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 Registrant's Ordinary Shares is at least $1.00 for a minimum of ten (10) consecutive business days, Nasdaq will provide
the Registrant a written confirmation of compliance and the matter will be closed.
In the event the Registrant does not regain compliance
by October 24, 2023, the Registrant may be eligible for an additional 180 calendar day grace period. To qualify, the Registrant will be
required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for
Nasdaq, 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 Registrant chooses to implement
a reverse stock split, it must complete the split no later than ten (10) business days prior to the expiration of the second compliance
period.
On April 28, 2023, the Registrant issued a press
release entitled “RCON Receives NASDAQ Notification Regarding Minimum Bid Requirements.” A copy of the press release is filed
as Exhibit 99.1 to this Current Report on Form 6-K and is incorporated herein by reference.
Exhibits
Pursuant
to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.
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RECON TECHNOLOGY, LTD |
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/s/ Shenping Yin |
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Shenping Yin |
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Chief Executive Officer |
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(Principal Executive Officer) |
Dated: April 28, 2023
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