SKK Holdings regains compliance with Nasdaq minimum bid price rule

SKK Holdings (SKK) received a formal notification from the Listing Qualifications Staff of The Nasdaq Stock Market indicating that the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2), which requires listed securities to maintain a minimum bid price of $1.00 per share. As previously disclosed, the Company was notified by Nasdaq on April 14, 2025 that the Company was not in compliance with the Rule because the closing bid price of its ordinary shares was below $1.00 per share for 30 consecutive business days. The Company had until October 13, 2025, and subsequently was granted an additional 180-days, or until October 13, 2025, to regain compliance with the Rule. On April 14, the Company received a written notification from the Staff of Nasdaq, indicating that the Company failed to regain compliance within the second 180-calendar-day compliance period, and as a result, the Staff determined to delist the Company’s securities from the Nasdaq Capital Market, unless the Company requests an appeal of the Staff’s determination to a hearings panel. Subsequently, Nasdaq has now determined that for the last ten consecutive business days, from April 6 to April 17 the closing bid price of the Company’s Class A ordinary shares was at or above $1.00 per share, and accordingly, the Company has regained compliance with the Rule. In light of regaining compliance, the Company no longer intends to pursue the previously contemplated appeal of the Staff’s delisting determination.