ECMOHO Limited Announces Receipt of Minimum Bid Price Notice From NASDAQ
September 21 2021 - 8:00AM
ECMOHO Limited (Nasdaq: MOHO) (“ECMOHO”, “we” or the “Company”), an
integrated solutions provider in the health and wellness market in
China, today announced that it received a notification letter dated
September 16, 2021 (the “Deficiency Letter”) from the Listing
Qualifications Department of The Nasdaq Stock Market Inc. (the
“Nasdaq”), indicating that the Company is no longer in compliance
with the minimum bid price requirement set forth in Rule 5450(a)(1)
of the Nasdaq Listing Rules as the Company’s closing bid price per
American depositary share (“ADS”), each representing four Class A
ordinary shares, par value US$0.00001 per share, of the Company,
has been below US$1.00 for a period of 30 consecutive business
days. The Nasdaq notification letter does not result in the
immediate delisting of the Company's securities.
Pursuant to Rule 5810(c)(3)(A) of the Nasdaq Listing Rules, the
Company has a compliance period of 180 calendar days, or until
March 15, 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 ADS is at least
US$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 that the Company does not regain compliance
by March 15, 2022, subject to the determination by the staff
of Nasdaq, it may be eligible for an additional 180 calendar days
compliance period if it meets the continued listing requirements
for market value of publicly held shares and all other initial
listing standards, with the exception of bid price requirement, of
the Nasdaq Capital Market, and provides written notice to Nasdaq of
its intention to cure the deficiency.
About ECMOHO Ltd.
ECMOHO is an integrated solutions provider in the health and
wellness market in China. The company curates and sells the best
global brands and quality products to Chinese health-conscious
consumers. Our technology, network and expertise in marketing and
distribution empower us to connect families with advanced health
supplements, nutrition and food items, personal care products,
household healthcare equipment and other wellness products. Through
over ten years of operation, ECMOHO has established an ecosystem of
trusted products and relationships to provide customized solutions
which promote health regeneration, impart therapeutic benefits, and
increase longevity to our devoted consumers to sustain health.
For more information, please visit http://ir.ecmoho.com/.
For investor and media inquiries, please contact:
ECMOHO Ltd.Investor RelationsMs. Yvonne Xu
Email: IR@ecmoho.com
Safe Harbor Statements
This news release contains forward-looking statements within the
meaning of 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. These forward-looking statements can be
identified by terminology such as “will,” “expects,” “anticipates,”
“future,” “intends,” “plans,” “believes,” “estimates,” “target,”
“going forward,” “outlook” and similar statements. For example, the
Company’s statements about its expectations for Company performance
in 2021, its strategy and industry outlook are forward-looking
statements and are inherently uncertain. Such statements are based
upon management's current expectations and current market and
operating conditions, and relate to events that involve known or
unknown risks, uncertainties and other factors, such as the
significant volatility and disruption caused by the COVID-19
pandemic, the Company’s expected growth of the online retail
industry in China, the Company’s expectations regarding demand for
and market acceptance of its products and services, the Company’s
expectations regarding its relationships with its brand partners
and e-commerce channels, and the level of consumer economic
activity in China, all of which are difficult to predict and many
of which are beyond the Company's control, which may cause the
Company's actual results, performance or achievements to differ
materially from those in the forward-looking statements. Further
information regarding these and other risks, uncertainties or
factors is included in the Company's filings with the U.S.
Securities and Exchange Commission. The Company does not undertake
any obligation to update any forward-looking statement as a result
of new information, future events or otherwise, except as required
under applicable law.
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