Webuy receives noncompliance notification from Nasdaq

Webuy (WBUY) announced that it received a letter from the Listing Qualifications Department of Nasdaq indicating that the company has not regained compliance with Nasdaq Listing Rule 5550, which requires listed securities to maintain a minimum bid price of $1.00 per share. As a result, the Nasdaq staff has issued a staff delisting determination, and the trading of the company’s Class A ordinary shares will be suspended at the opening of business on January 29.