BEIJING, Jan. 25, 2022 /PRNewswire/ -- Tarena
International, Inc. (NASDAQ: TEDU) ("Tarena" or the "Company"), a
leading provider of adult professional education and childhood
& adolescent quality education services in China, today announced that it received a
written notification from the Staff of the Listing
Qualifications Department of the Nasdaq Stock Market
LLC ("Nasdaq") dated January 20, 2022, indicating that
the Company no longer meets the continued listing requirement of
minimum Market Value of Publicly Held Shares ("MVPHS") for the
Nasdaq Global Select Market, as set forth in the Nasdaq Listing
Rule 5450(b)(2)(C), because the Company's MVPHS for the last 30
consecutive business days was below the minimum MVPHS requirement
of US$15,000,000.
Pursuant to the Nasdaq Listing Rules, the applicable grace
period to regain compliance is 180 calendar days, or
until July 19, 2022. The Company can cure this deficiency if
its MVPHS closes at US$15,000,000 or
more for a minimum of ten consecutive business days during the
compliance period. The Company's management is looking into
various options available to regain compliance and maintain its
continued listing on The Nasdaq Global Select Market. In the event
the Company does not regain compliance prior to the expiration of
the compliance period, it will receive written notification that
its securities are subject to delisting. Alternatively, the Company
may apply to transfer the Company's securities to The Nasdaq
Capital Market, subject to the Nasdaq Capital Market's continued
listing requirements.
About Tarena International, Inc.
Tarena is a leading provider of adult professional education and
childhood and adolescent quality education services in
China. Through its innovative
education platform combining live distance instruction,
classroom-based tutoring and online learning modules, Tarena offers
adult professional education courses in IT and non-IT subjects. Its
adult professional education courses provide students with
practical skills to prepare them for jobs in industries with
significant growth potential and strong hiring demand. Tarena also
offers childhood and adolescent quality education programs,
including computer coding and robotics programming courses, etc.,
targeting students aged between three and eighteen.
Safe Harbor Statement
This press release contains forward-looking statements made
under the "safe harbor" provisions of Section 21E of the Securities
Exchange Act of 1934, as amended, and 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," "confident" and similar statements. Tarena may also
make written or oral forward-looking statements in its reports
filed with or furnished to the U.S. Securities and Exchange
Commission, in its annual report to shareholders, in press releases
and other written materials and in oral statements made by its
officers, directors or employees to third parties. Any statements
that are not historical facts, including any business outlook and
statements about Tarena's beliefs and expectations, are
forward-looking statements. Many factors, risks and uncertainties
could cause actual results to differ materially from those in the
forward-looking statements. Such factors and risks include, but not
limited to the following: the impact of the COVID-19 outbreak;
Tarena's goals and strategies; its future business development,
financial condition and results of operations; its ability to
continue to attract students to enroll in its courses; its ability
to continue to recruit, train and retain qualified instructors and
teaching assistants; its ability to continually tailor its
curriculum to market demand and enhance its courses to adequately
and promptly respond to developments in the professional job
market; its ability to maintain or enhance its brand recognition,
its ability to maintain high job placement rate for its students,
and its ability to maintain cooperative relationships with
financing service providers for student loans. Further information
regarding these and other risks, uncertainties or factors is
included in Tarena's filings with the U.S. Securities and Exchange
Commission. All information provided in this press release is
current as of the date of the press release, and Tarena does not
undertake any obligation to update such information, except as
required under applicable law.
For further information, please contact:
Investor Relations Contact
Tarena International, Inc.
Email: ir@tedu.cn
View original
content:https://www.prnewswire.com/news-releases/tarena-announces-receipt-of-nasdaq-notification-regarding-minimum-market-value-of-publicly-held-shares-301467282.html
SOURCE Tarena International, Inc.