XIAMEN,
China, Jan. 27, 2025 /PRNewswire/ --Lichen China
Limited (Nasdaq: LICN) ("Lichen China" or the
"Company"), a dedicated financial and taxation service provider
in China today announced that it has received a written
notification (the "Notification Letter") from the Listings
Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq")
on January 23, 2025. The Notification
Letter advised the Company that for the last 30 consecutive
business days, the minimum closing bid price per share for the
Company's ordinary shares was below the $1.00 per share requirement for continued listing
under Nasdaq Listing Rule 5550(a)(2).
The Company would like to clarify that the Notification Letter
has no current effect on the listing or trading of the Company's
securities on Nasdaq. Pursuant to Nasdaq Listing Rules
5810(c)(3)(A), the Company has been granted a compliance period of
180 calendar days, until July 22, 2025, to regain compliance with
the Nasdaq Listing Rules. If, at any time during this compliance
period, the closing bid price of the Company's ordinary shares
reaches US$1.00 per share or higher for a minimum of ten
consecutive business days, Nasdaq will provide the Company with
written confirmation of compliance, and the matter will be
resolved.
In the event the Company does not regain compliance by
July 22, 2025, it may be eligible for
an additional 180 calendar day period to regain compliance.
The Company intends to actively monitor the bid price for its
shares and will evaluate available options to regain compliance
with the continued listing requirements.
About Lichen China Limited
Lichen China Limited focuses on providing financial and taxation
solution services, education support services, and software and
maintenance services under its "Lichen" brand. In recognition of
the Company's expertise and experience in the financial and
taxation solution services industry for over 18 years, the Company
has built up its reputation as a dedicated financial and taxation
solution services provider of professional and high-quality
services in China. For more information, please visit the
Company's website: https://ir.lichenzx.com/.
Forward-Looking Statements
Certain statements in this announcement are forward-looking
statements. These forward-looking statements involve known and
unknown risks and uncertainties and are based on current
expectations and projections about future events and financial
trends that the Company believes may affect its financial
condition, results of operations, business strategy and financial
needs. Investors can identify these forward-looking statements by
words or phrases such as "may," "will," "expect," "anticipate,"
"aim," "estimate," "intend," "plan," "believe," "potential,"
"continue," "is/are likely to" or other similar expressions. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and the
Company cautions investors that actual results may differ
materially from the anticipated results and encourages investors to
review other factors that may affect its future results in the
Company's registration statement and in its other filings with the
U.S. Securities and Exchange Commission.
For more information, please contact:
Tian Sun
Phone: +86-0592-5586999
Email: ir@lichenzx.com
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SOURCE Lichen China Limited