MMTEC regains compliance with Nasdaq minimum bid price deficiency

MMTEC announced that the Company received a notification letter from the Listings Qualifications Department of The Nasdaq Stock Market LLC notifying the company that it has regained compliance with the Nasdaq’s minimum bid price requirement and that the matter is closed. As previously disclosed, MMTec, Inc., received a deficiency letter from the Listing Qualifications Department of the Nasdaq Stock Market LLC on June 27, 2023, indicating that the company was not in compliance with Nasdaq Rule 5550(a)(2), as the closing bid price for the company’s common stock had been below $1.00 per share for the preceding 30 consecutive business days. In accordance with the Nasdaq Listing Rules, the company was provided a compliance period of 180 calendar days, or until December 26, 2023, to regain compliance with the Bid Price Rule.