Top Wealth granted second grace period by Nasdaq for minimum bid compliance

Top Wealth Group (TWG) Holding announced that it received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC on June 10, indicating that the company is granted an additional 180 calendar days, until December 8, to regain compliance with the minimum bid price requirement of $1 per share, as stipulated by Nasdaq Listing Rule 5550(a)(2). If compliance cannot be demonstrated by December 8, Nasdaq staff will provide written notification that the company’s securities will be delisted. At that time, the company may appeal Nasdaq staff’s determination to a Hearings Panel. The company is currently evaluating options to regain compliance and intends to timely regain compliance with Nasdaq’s continued listing requirement. The company will use all reasonable efforts to achieve compliance with Rule 5550(a)(2).