Baijiayun receives Nasdaq notice of non-compliance

Baijiayun Group announced that it received a notification letter dated March 14 from the Listing Qualifications Department of The Nasdaq Stock Market indicating that the company is not in compliance with the minimum bid price requirement set forth in Rule 5450(a)(1) of the Nasdaq Listing Rules as the closing bid price of the company’s Class A ordinary share has been below $1.00 per Share for a period of 30 consecutive trading days. The company intends to monitor the closing bid price of its Shares and will continue to consider its available options to regain compliance with the minimum bid price requirement under the Nasdaq Listing Rules. The company is currently in compliance with all other Nasdaq continued listing standards. The Notification Letter does not affect the company’s business operations, its U.S. SEC reporting requirements or contractual obligations.