Xiao-I regains compliance with Nasdaq listing rules

Xiao-I Corporation announced that on September 9, 2024 it received a written notice from The Nasdaq Listing Qualifications Staff of the Nasdaq Stock Market LLC stating that the company regained compliance with the minimum bid price requirement, as set forth in Nasdaq Listing Rule 5450(a)(1) for continued listing on the Nasdaq Global Market. As previously disclosed, on July 11, 2024, Xiao-I was notified by Nasdaq that its American Depositary Share had failed to meet the $1.00 minimum closing bid price over a consecutive 30-business-day period, as required by Nasdaq Listing Rule 5450(a)(1). The company was given a compliance period to meet the requirement by maintaining a closing bid price of at least $1.00 for a minimum of 10 consecutive business days. As of September 9, 2024, Nasdaq has confirmed that Xiao-I’s ADS has maintained a closing bid price of $1.00 or more for 10 consecutive business days, from August 23, 2024 to September 8, 2024.