WORK Medical receives Nasdaq bid price deficiency notification

WORK Medical (WOK) Technology Group LTD announced that the company received a written notification from the Nasdaq Stock Market LLC on April 7, 2025, notifying the company that it is not in compliance with the minimum bid price requirement set forth in the Nasdaq Listing Rules for continued listing on the Nasdaq. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of $1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. Based on the closing bid price of the company’s Class A ordinary shares for the 30 consecutive business days from February 24, 2025 to April 4, 2025, the company no longer meets the minimum bid price requirement. The Notification Letter does not impact the company’s listing on the Nasdaq Capital Market at this time. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the company has been provided 180 calendar days, or until October 6, 2025, to regain compliance with Nasdaq Listing Rule 5550(a)(2). To regain compliance, the company’s Class A ordinary shares must have a closing bid price of at least $1.00 for a minimum of 10 consecutive business days. In the event the company does not regain compliance by October 6, 2025, the company may be eligible for additional time to regain compliance or may face delisting.