Springview (SPHL) announced that it has received a written decision from Nasdaq confirming that the company has regained compliance with Nasdaq Listing Rule 5550, which requires a minimum bid price of $1.00 per share for continued listing on Nasdaq. As previously disclosed, the company implemented a 1-for-8 reverse share split effective December 2. Following the reverse share split, the company’s Class A ordinary shares maintained a closing bid price at or above $1.00 per share for at least ten consecutive trading days, as required under the Nasdaq Listing Rules. Based on this, the panel determined that the company is currently in compliance with the minimum bid price requirement.
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