Tian Ruixiang regains compliance with Nasdaq minimum bid price rule

TIAN RUIXIANG announced that the Company received a written notification from the Nasdaq Stock Market on May 29, 2024, informing the Company that it has regained compliance with Nasdaq’s minimum bid price requirement under Listing Rule 5550(a)(2). According to the Notification Letter, as of May 28, 2024, the Company has maintained a closing bid price of $1.00 per share or greater for ten consecutive business days. In addition, the Company received a letter from Nasdaq on May 29, 2024, granting the Company an extension until August 15, 2024 to regain compliance with Nasdaq’s filing requirements set forth in Listing Rule 5250(c)(1). As previously reported, the Company received a deficiency notice from Nasdaq on March 20, 2024, due to the delay in filing its Annual Report on Form 20-F for the fiscal year ended October 31, 2023. To rectify this situation, the Company has been working diligently with its auditors and anticipates that it will file the Annual Report before August 15, 2024, however, there is no assurance that it will be able to do so. If the Company fails to file Form 20-F by August 15, 2024, the Company will be subject to delisting. The Extension Notice does not affect the Company’s business operations, its U.S. Securities and Exchange Commission reporting requirements, or its contractual obligations.