Report of Foreign Issuer (6-k)
January 15 2020 - 10:04AM
Edgar (US Regulatory)
U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of January 2020
Commission File Number: 001-34409
RECON TECHNOLOGY, LTD
Room 1902, Building C, King Long International
Mansion
No. 9 Fulin Road
Beijing, 100107
People’s Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will
file annual reports under cover of Form 20-F or Form 40-F.
Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨
This report on Form 6-K is hereby incorporated
by reference into the Company’s (i) Registration Statement on Form F-3 (file No. 333-234660) filed with SEC on November 13,
2019 and (ii) Registration Statement on Form S-8 (file No. 333-228918) filed with SEC on December 20, 2018 and the reoffer prospectus,
dated December 20, 2018, contained therein.
Regaining of Minimum Bid Price Compliance
As previously reported, on January 15,
2019, Recon Technology, Ltd. (the “Company”) received a notification letter (the “Notice”) from The Nasdaq
Stock Market (“Nasdaq”) advising the Company that for 30 consecutive business days preceding the date of the Notice,
the bid price of the Company’s ordinary shares had closed below the $1.00 per share minimum required for continued listing
on The Nasdaq Capital Market pursuant to Nasdaq Marketplace Rule 5550(a)(2) (the “Minimum Bid Price Rule”).
The Company was provided 180 calendar days,
or until July 15, 2019, to regain compliance with the Minimum Bid Price Rule. The Company was unable to regain compliance with
the Minimum Bid Price Rule by July 15, 2019. On July 16, 2019, Nasdaq granted the Company an additional 180 calendar days, or until
January 13, 2020, to regain compliance with the $1.00 per share minimum required for continued listing on The Nasdaq Capital Market
pursuant to the Minimum Bid Price Rule.
The Nasdaq determination to grant the second
compliance period was based on the Company’s meeting the continued listing requirement for market value of publicly held
shares and all other applicable requirements for initial listing on The Nasdaq Capital Market, with the exception of the bid price
requirement, and the Company’s written notice of its intention to cure the deficiency during the second compliance period
by effecting a reverse stock split, if necessary.
Accordingly, on December 27, 2019, the
Company completed a 1 for 5 reverse stock split. Since completion of the reverse split, Nasdaq has determined that for 10 consecutive
business days, from December 27, 2019 through and including January 10, 2020, the closing bid price of the Company’s ordinary
shares has been at $1.00 per share or greater.
On January 13, 2020, Nasdaq notified the
Company that it has regained compliance with Listing Rule 5550(a)(2) and the matter is now closed.
The Company issued a press release announcing
that it had regained compliance with Nasdaq Marketplace Rules effective January 15, 2020. A copy of the press release is attached
as Exhibit 99.1.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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RECON TECHNOLOGY, LTD.
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Date: January 15, 2020
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By:
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/s/ Liu Jia
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Name: Liu Jia
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Title: Chief Financial Officer
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