Nasdaq Grants Borqs’ Request for Continued Listing Borqs Receives Nasdaq Hearings Panel Decision To Extend Filing of 2019 A...
September 17 2020 - 9:00AM
Borqs Technologies, Inc. (Nasdaq: BRQS), (the “Company”, or
“Borqs”), a global leader in embedded software and products for the
Internet of Things (IoT) industry, announced it has received a
letter dated September 14, 2020 from the Hearings Advisor of the
Nasdaq Office of General Counsel as a result of the hearing that
took place on August 27, 2020. The Nasdaq Hearings Panel has
granted the request of Borqs to remain listed on The Nasdaq Stock
Market subject to the condition that on or before September 30,
2020, the Company shall have filed a Form 20-F with the U.S.
Securities and Exchange Commission. The Company thanks the Nasdaq
Stock Market and intends to comply with the aforementioned
condition.
The Panel has the right to reconsider the terms
of this decision based on any event, condition or circumstance that
exists or develops that would, in the opinion of the Panel, make
continued listing of the Company’s securities on the Nasdaq Stock
Market inadvisable or unwarranted. In addition, the Form 20-F will
be subject to review by the Panel, which may, in its discretion,
request additional information before determining that the Company
has complied with the terms of its decision.
About Borqs
Technologies, Inc.: Borqs
Technologies is a global leader in software and products for the
IoT, providing customizable, differentiated and scalable
Android-based smart connected devices and cloud service solutions.
Borqs has achieved leadership and customer recognition as an
innovative end-to-end IoT solutions provider leveraging its
strategic chipset partner relationships as well as its broad
software and IP portfolio.
Borqs’ unique strengths include its Android and
Android Wear Licenses which enabled the Company to develop a
software IP library covering chipset software, Android
enhancements, domain specific usage and system performance
optimization, suitable for large and low volume customized
products. The Company is also currently in development of 5G
products like smartphones and hotspots.
Forward-Looking Statements and
Additional InformationThis press release includes
“forward-looking statements” that involve risks and uncertainties
that could cause actual results to differ materially from what is
expected. Words such as “expects”, “believes”, “anticipates”,
“intends”, “estimates”, “predicts”, “seeks”, “may”, “might”,
“plan”, “possible”, “should” and variations and similar words and
expressions are intended to identify such forward-looking
statements, but the absence of these words does not mean that a
statement is not forward-looking. Such forward-looking statements
relate to future events or future results, based on currently
available information and reflect our management’s current beliefs.
Many factors could cause actual events or results to differ
materially from the events and results discussed in the
forward-looking statements, including our inability to file the
Form 20-F in a timely manner or in a form satisfactory to the
Panel. Except as expressly required by applicable securities law,
the Company disclaims any obligation to update any forward-looking
statements, whether as a result of new information, future events
or otherwise.
Investor Contact:Sandra DouDirector of FinanceBorqs
Technologies, Inc.sandra.dou@borqs.net
www.borqs.com
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