ZHUHAI, China, Oct. 10,
2023 /PRNewswire/ -- Powerbridge Technologies Co.,
Ltd. (Nasdaq: PBTS) (the "Company"), a provider of multi-industry
technology solutions, today announced that it has received a
notification letter from the Listing Qualifications Department of
the Nasdaq Stock Market LLC (the "Nasdaq") dated October 6, 2023, stating that the closing bid
price of the Company's ordinary shares has been at $1.00 per share or greater for 10 consecutive
trading days, from September 22 to October
5, 2023. Accordingly, the Company has regained compliance
with the minimum bid price requirement under Nasdaq Listing Rule
5550(a)(2).
As previously disclosed, the Company received a letter from the
Nasdaq on August 11, 2023, stating
that the Company was not in compliance with the minimum bid price
requirement as set forth under Nasdaq Listing Rule 5550(a)(2) for
continued listing on the Nasdaq, as the closing bid price of the
Company's ordinary shares for the 30 consecutive business days from
June 28, 2023 to August 10, 2023 had been below $1.00 per share. In accordance with the Nasdaq
Listing Rule 5810(c)(3)(A), the Company has been provided 180
calendar days, or until February 7, 2024, to regain compliance with
Nasdaq Listing Rule 5550(a)(2).
About Powerbridge Technologies
Powerbridge Technologies Co., Ltd. (Nasdaq: PBTS) is a global
provider of technology solutions and services across multiple
industries. The Company is engaged in four segments of business:
global trade digital platform and services, agritech and
agribusiness solutions, integrated renewable energy and
agribusiness solutions, and crypto equipment trading
and cryptomining operations.
Safe Harbor Statement
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. When the Company uses words such as
"may", "will", "intend," "should," "believe," "expect,"
"anticipate," "project," "estimate" or similar expressions that do
not relate solely to historical matters, it is making
forward-looking statements. Forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties that may cause the actual results to differ
materially from the Company's expectations discussed in the
forward-looking statements. These statements are subject to
uncertainties and risks including, but not limited to, the
following: the Company's goals and strategies; the Company's future
business development; product and service demand and acceptance;
changes in technology; economic conditions; reputation and brand;
the impact of competition and pricing; government regulations;
fluctuations in general economic and business conditions in
China and assumptions underlying
or related to any of the foregoing and other risks contained in
reports filed by the Company with the Securities Exchange
Commission (the "SEC"). For these reasons, among others, investors
are cautioned not to place undue reliance upon any forward-looking
statements in this press release. Additional factors are discussed
in the Company's filings with the SEC, which are available for
review at www.sec.gov. The Company undertakes no obligation to
publicly revise these forward-looking statements to reflect events
or circumstances that arise after the date hereof.
Website: www.powerbridge.com/ir/
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SOURCE Powerbridge Technologies Co., Ltd.