Smart Share regains compliance with Nasdaq

Smart Share (EM) announced that it received a notification letter from Nasdaq, dated January 31, notifying the company that it has regained compliance with the requirement of minimum bid price of $1.00 per share set forth under Nasdaq Listing Rule 5550. As announced on August 9, 2024, the company received a letter from Nasdaq indicating that it was not in compliance with Nasdaq Listing Rule 5550, as the closing bid price of its American Depositary Shares had been below $1.00 per ADS for the previous 30 consecutive business days. The company was provided with a compliance period of 180 calendar days, or until February 3, to regain compliance with the minimum bid price requirement. On January 31, Nasdaq confirmed in the compliance notification that the closing bid price of the company’s ADSs has been at $1.00 per share or higher for the 10 consecutive business days from January 16 to January 30. Accordingly, the company has regained compliance with the minimum bid price requirement, and the matter is now closed.