Bit Brother Limited receives Nasdaq delisting letter

Bit Brother Limited announced that it has received a notice from the NASDAQ Stock Market notifying the company that the Nasdaq Staff had determined to delist the company’s securities from Nasdaq based upon the Company’s non-compliance with Nasdaq Listing Rule 5550(a)(2) and 5810(c)(3)(A)(iii), as the Company’s securities had a closing bid price of $0.10 or less for 11 consecutive trading days from October 26 through November 9, 2023. The notice has no immediate impact on the Company’s listing and trading, as the Company intends to request a hearing before the Panel by November 17, 2023. Such request will stay any suspension or delisting action by Nasdaq pending the completion of the hearing process There can be no assurance that the Panel will grant the Company’s request for additional time to demonstrate compliance of continued listing requirement or that the Company will be able meet the continued listing requirement during any compliance period or in the future. If the Panel does not grant the Company’s request for additional time, its ordinary shares will be subject to delisting and the liquidity and marketability of the Company’s ordinary shares would be adversely affected.