Ucommune International receives noncompliance notification

Ucommune International received written notification from Nasdaq that the company is not in compliance with the minimum bid price requirement for continued listing on Nasdaq. Based on the closing bid price of the Company’s ordinary shares for the 30 consecutive business days from June 6, 2023 to July 20, 2023, the company no longer meets the minimum $1 bid price requirement. The notification letter does not impact the company’s listing on Nasdaq at this time. The company must regain compliance within 180 calendar days, or until January 17, 2024. In the event the company does not regain compliance by January 17, 2024, the Company may be eligible for additional time to regain compliance or may face delisting. The company may, if appropriate, consider implementing available options, including, but not limited to, implementing a reverse share split of its outstanding ordinary shares, to regain compliance with Nasdaq Listing Rules.