Smart Share Global Limited Regains Compliance with the Nasdaq Minimum Bid Price Requirement
23 Mayo 2024 - 5:30AM
Smart Share Global Limited (Nasdaq: EM) (“Energy Monster” or the
“Company”), a consumer tech company providing mobile device
charging service, today announced that it received a notification
letter (the “Compliance Notification”) from the Listing
Qualifications Department of the Nasdaq Stock Market LLC
(“Nasdaq”), dated May 22, 2024, notifying the Company that it has
regained compliance with the requirement of minimum bid price of
US$1.00 per share set forth under Nasdaq Listing Rule 5550(a)(2)
(the “Minimum Bid Price Requirement”).
As previously announced, the Company received a
letter from Nasdaq dated June 22, 2023, indicating that it was not
in compliance with Nasdaq Listing Rule 5450(a)(1), as the closing
bid price of its American Depositary Shares (the “ADSs”) had been
below US$1.00 per ADS for the previous 30 consecutive business
days. The Company was given an initial period of 180 calendar days
to regain compliance with the Minimum Bid Price Requirement. As
announced on December 21, 2023, the Company was granted a second
period of 180 calendar days, or until June 17, 2024, to regain
compliance. To regain compliance, the closing bid price of the
Company’s ADSs needs to be US$1.00 per share or higher for a
minimum of ten consecutive business days on or prior to June 17,
2024.
On May 22, 2024, Nasdaq confirmed in the
Compliance Notification that the closing bid price of the Company’s
ADSs has been at US$1.00 per share or higher for the 10 consecutive
business days from May 8, 2024 through May 21, 2024. Accordingly,
the Company has regained the Minimum Bid Price Requirement, and the
matter is now closed.
About Smart Share Global
Limited
Smart Share Global Limited (Nasdaq: EM), or Energy
Monster, is a consumer tech company with the mission to energize
everyday life. The Company is the largest provider of mobile device
charging service in China with the number one market share. The
Company provides mobile device charging service through its power
banks, which are placed in POIs such as entertainment venues,
restaurants, shopping centers, hotels, transportation hubs and
public spaces. Users may access the service by scanning the QR
codes on Energy Monster’s cabinets to release the power banks. As
of December 31, 2023, the Company had 9.2 million power banks in
1,234,000 POIs across more than 2,000 counties and county-level
districts in China.
Contact UsInvestor RelationsHansen
Shiir@enmonster.com
Smart Share Global (NASDAQ:EM)
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