Missfresh Announces Receipt of Minimum Bid Price Notice from Nasdaq
21 Junio 2023 - 4:00PM
Missfresh Limited (NASDAQ: MF) (“Missfresh” or the “Company”) today
announced that it has received written notification from the staff
of the Listing Qualifications Department of The Nasdaq Stock Market
LLC (“Nasdaq”) dated June 14, 2023, indicating that for the last 30
consecutive business days, the closing bid price for the Company’s
American depositary shares (the “ADSs”) was below the minimum bid
price of US$1.00 per share requirement set forth in Nasdaq
Listing Rule 5450(a)(1).
Pursuant to the Nasdaq Listing Rule 5810(c)(3)(A), the Company
is provided with a compliance period of 180 calendar days, or until
December 11, 2023, to regain compliance under the Nasdaq Listing
Rules. If at any time during the 180-day compliance period, the
closing bid price of the Company’s ADSs is US$1.00 per share or
higher for a minimum of ten consecutive business days, Nasdaq will
provide the Company written confirmation of compliance and the
matter will be closed.
The Nasdaq notification letter will have no effect on the
Company’s business operations, and the Company will take all
reasonable measures to regain compliance.
In addition, as previously announced, the Company has requested
a hearing as the Company no longer is in compliance with the
minimum $10,000,000 stockholders’ equity requirement for continued
listing or the alternative criteria and will be presenting its plan
to remedy the deficiencies at such time. However, there can be no
assurance that the Panel will grant the Company’s request for
continued listing or that the Company will be able to evidence
compliance with the applicable listing criteria within any
extension of time that may be granted by the Panel following the
hearing.
Safe Harbor Statements
This announcement contains statements that may constitute
“forward-looking” statements which are made pursuant to the “safe
harbor” provisions of the U.S. Private Securities Litigation Reform
Act of 1995. These forward-looking statements can be identified by
terminology such as “will,” “expects,” “anticipates,” “aims,”
“future,” “intends,” “plans,” “believes,” “estimates,” “likely to,”
and similar statements. Statements that are not historical facts,
including statements about the Company’s beliefs, plans, and
expectations, are forward-looking statements. The Company has based
these forward-looking statements largely on its current
expectations and projections about future events and financial
trends, which involve known or unknown risks, uncertainties and
other factors, all of which are difficult to predict and many of
which are beyond the Company’s control. Forward-looking statements
involve inherent risks and uncertainties. A number of factors could
cause actual results to differ materially from those contained in
any forward-looking statement, including but not limited to the
following: adverse changes in general economic or market
conditions; potential changes in laws, regulations and governmental
policies or changes in the interpretation and implementation of
laws, regulations and governmental policies that could adversely
affect the industries in which Missfresh or its business partners
operate, including, among others, initiatives to enhance
supervision of companies listed on an overseas exchange and tighten
scrutiny over data privacy and data security; natural disasters and
geopolitical events; and intensity of competition. Further
information regarding these and other risks is included in the
Company’s filings with the SEC. All information provided in this
press release is as of the date of this press release, and the
Company does not undertake any obligation to update any
forward-looking statement, except as required under applicable
law.
For investor and media inquiries, please
contact:
In China:
Missfresh Limited Investor Relations Tel: +86 (10)
5954-4422E-mail: ir@missfresh.cn
The Piacente Group, Inc. Jenny Cai Tel: +86 (10) 6508-0677
E-mail: missfresh@tpg-ir.com
In the United States:
The Piacente Group, Inc. Brandi Piacente Tel: +1-212-481-2050
E-mail: missfresh@tpg-ir.com
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