J-Long Group receives Nasdaq deficiency notice on minimum bid price rule

J-Long Group disclosed that it had received a notice from the Nasdaq Stock Market that JL is not currently in compliance with the $1.00 minimum bid price requirement for continued listing of the Company’s ordinary shares on the Nasdaq Global Market, as set forth in Nasdaq Listing Rules. The Notice indicated that the Company has 180 days, or until November 11, 2024, to regain compliance with the Minimum Bid Price Requirement by having the closing bid price of the Ordinary Shares meet or exceed $1.00 per Ordinary Share for at least ten consecutive business days. The Notice has no immediate effect on the listing of the Company’s Ordinary Shares, which continue to trade on The Nasdaq Global Market under the symbol “JL.” The Company intends to monitor the closing bid price of its Ordinary Shares and may, if appropriate, consider implementing available options to regain compliance with the Minimum Bid Price Requirement, including a reverse stock split. If the Company does not regain compliance by the Compliance Deadline, the Company may be afforded an additional 180 calendar day period to regain compliance as provided by the Nasdaq Listing Rules.