MultiMetaVerse Holdings Limited Receives Nasdaq Notification Regarding Minimum Bid Price and Minimum Market Value of Listed Securities
October 18 2024 - 4:30PM
MultiMetaVerse Holdings Limited (the “Company”) received a letter
from The Nasdaq Stock Market LLC (“Nasdaq”) stating that the
Company was not in compliance with the minimum bid price of $1.00
per share requirement under Nasdaq Listing Rule 5550(a)(2) (the
“Bid Price Rule”) and the minimum market value of listed securities
of $35 million requirement under Nasdaq Listing Rule 5550(b)(2)
(the “MVLS Rule”), and had failed to regain compliance with the Bid
Price Rule and the MVLS Rule during the extension period which
ended on October 14, 2024. The Company has until October 22, 2024
to request a hearing before the Nasdaq Hearings Panel (the
“Panel”),which it currently intends to do. If the Company does not
request a hearing before the Panel by that date, trading in its
Class A ordinary shares and warrants will be suspended at the
opening of business on October 24, 2024 and a Form 25-NSE will be
filed with the Securities and Exchange Commission (“SEC”) removing
the securities from listing and registration on Nasdaq. In the
event the Company’s securities are delisted from Nasdaq, its
securities are expected to trade over-the-counter.
About MultiMetaVerse Holdings Limited
MultiMetaVerse Holdings Limited (NASDAQ: MMV) is an animation
and entertainment company dedicated to providing a high-quality,
immersive entertainment experience through original,
user-generated, and professional user-generated content. MMV
commenced animation production in 2015 under its signature Aotu
World brand, which has attracted a broad following with its
inspiring storyline and unique graphic style, particularly among
younger audiences in China. By leveraging the company’s established
user base, MMV has built a diverse product portfolio, including
animated content, comic books, short videos, collectibles,
stationery, consumer products, and mobile games across the Aotu
World brand. It has also developed and augmented new brands,
stories, and characters, such as Neko Album.
For more information, please visit
https://www.multi-metaverse.com/.
For investor and media inquiries, please contact:
MultiMetaVerse Holdings LimitedInvestor RelationsE-mail:
ir@multi-metaverse.com
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