SHANGHAI, May 27, 2022
/PRNewswire/ -- Nisun International Enterprise Development Group
Co., Ltd ("Nisun" or the "Company") (Nasdaq: NISN), a provider of
innovative comprehensive solutions through an integration of
technology, industry and finance, today announced that on
May 25, 2022, it received a letter
from The Nasdaq Stock Market LLC ("Nasdaq"), notifying the Company
that it is currently not in compliance with the minimum bid price
requirement set forth under Nasdaq Listing Rule 5550(a)(2). It
resulted from the fact that the closing bid price of the Company's
Class A common shares was below $1.00
per share for a period of 30 consecutive business days. This press
release is issued pursuant to Nasdaq Listing Rule 5810(b), which
requires prompt disclosure of receipt of a deficiency notification.
The notification has no immediate effect on the listing of the
Company's common shares, which will continue to trade uninterrupted
on Nasdaq under the ticker "NISN".
Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has a
compliance period of 180 calendar days, or until November 21, 2022
(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 common
shares is at least $1.00 for a minimum of 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 with the
minimum bid price requirement by November
21, 2022, the Company may be eligible for an additional 180
calendar day grace period.
About Nisun International Enterprise Development Group Co.,
Ltd
Nisun International Enterprise Development Group Co., Ltd
(NASDAQ: NISN) is a technology-driven, integrated supply chain
solutions provider focused on transforming the corporate finance
industry. Leveraging its industry experience, Nisun is dedicated to
providing professional supply chain solutions to Chinese and
foreign enterprises and financial institutions. Through its
subsidiaries and controlled companies, Nisun provides users with
professional solutions for technology supply chain management,
technology asset routing, and digital transformation of tech and
finance institutions, enabling the industry to strengthen and grow.
At the same time, Nisun continues to deepen the field of industry
segmentation through industrial and financial integration, by
cultivating and creating an ecosystem of openness and empowerment.
Nisun has built a linked platform that incorporates supply chain,
banking, securities, trust, insurance, funds, state-owned
enterprises, among other businesses. Focusing on industry-finance
linkages, Nisun aims to serve the upstream and downstream of the
industrial supply chain while also assisting with supply-side
sub-sector reform. For more information, please visit
http://ir.nisun-international.com.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains information about Nisun's view of
its future expectations, plans and prospects that constitute
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and as defined in the
U.S. Private Securities Litigation Reform Act of 1995. Actual
results may differ materially from historical results or those
indicated by these forward-looking statements as a result of a
variety of factors including, but not limited to, risks and
uncertainties associated with its ability to raise additional
funding, its ability to maintain and grow its business, variability
of operating results, its ability to maintain and enhance its
brand, its development and introduction of new products and
services, the successful integration of acquired companies,
technologies and assets into its portfolio of products and
services, marketing and other business development initiatives,
competition in the industry, general government regulation,
economic conditions, dependence on key personnel, the ability to
attract, hire and retain personnel who possess the technical skills
and experience necessary to meet the requirements of its clients,
and its ability to protect its intellectual property. Nisun
encourages you to review other factors that may affect its future
results in Nisun's registration statement and in its other filings
with the Securities and Exchange Commission. Nisun assumes no
obligation to update or revise its forward-looking statements as a
result of new information, future events or otherwise, except as
expressly required by applicable law.
Contacts
Nisun International Enterprise Development Group Co.,
Ltd
Investor Relations
Tel: +86 (21) 2357-0055
Email: ir@cnisun.com
ICR, LLC
Tel: +1 203 682 8233
Email: nisun@icrinc.com
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SOURCE Nisun International Enterprise Development Group Co.,
Ltd