SHANGHAI, China, September 21, 2021 (GLOBE NEWSWIRE) – ECMOHO Limited (Nasdaq: MOHO) (“ECMOHO”, “we” or the “Company”), a provider of integrated solutions to the healthcare and wellness market be in China, today announced that it has received a notification letter dated September 16, 2021 (the “Deficiency Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market Inc. (the “Nasdaq” ), indicating that the company is no longer in compliance with the minimum bid prices set out in Rule 5450 (a) (1) of the Nasdaq Listing Rules as the closing bid price of the Company per share of the US custodian ( “ADS”), each representing four Class A common shares, with a par value of $ 0.00001 per share, of the Company, has been below $ 1.00 for a period of 30 consecutive business days. The Nasdaq notification letter does not result in the immediate delisting of the Company’s securities.
In accordance with Rule 5810 (c) (3) (A) of the Nasdaq Listing Rules, the Company has a compliance period of 180 calendar days, or until March 15, 2022 (the “Compliance Period”) , to re-comply with the minimum Nasdaq requirements. bid price requirement. If at any time during the compliance period the closing bid price by ADS is at least $ 1.00 for at least 10 consecutive business days, Nasdaq will provide the Company with written confirmation of compliance and the file will be closed.
In the event that the Company does not recover compliance by March 15, 2022, subject to determination by Nasdaq staff, it may be eligible for an additional 180 calendar day compliance period if it meets the listing requirements. continues for the market value of government securities. held stock and all other initial listing standards, except the bid price requirement, of the Nasdaq Capital Market, and is providing written notice to Nasdaq of its intention to remedy the deficiency.
About ECMOHO Ltd.
ECMOHO is an integrated solution provider in the health and wellness market in China. The company organizes and sells the world’s best brands and quality products to health-conscious Chinese consumers. Our technology, network, and marketing and distribution expertise allow us to connect families with advanced health supplements, nutritional and food products, personal care products, household health care equipment and other health products. well-being. In more than ten years of activity, ECMOHO has established an ecosystem of products and trusted relationships to provide personalized solutions that promote health regeneration, confer therapeutic benefits and increase the longevity of our dedicated consumers to maintain health.
For more information, please visit http://ir.ecmoho.com/.
For investor and media inquiries, please contact:
Ms. Yvonne Xu
Email: [email protected]
Safe Harbor declarations
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by terminology such as “will”, “expects”, “anticipates”, “the future”, “intention”, “plans”, “believes”, “estimates”, “targets”, “to go” ahead ”,“ outlook ”and similar statements. For example, the Company’s statements regarding its 2021 Company performance expectations, strategy and industry outlook are forward-looking statements and are inherently uncertain. These statements are based on current management expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, such as volatility and significant disruptions caused by the COVID-19 pandemic, the Company’s expected growth of the online retail industry in China, the Company’s expectations regarding the demand and market acceptance of its products and services, the Company’s expectations regarding its relationships with its partner brands and e-commerce channels, and the level of economic activity of consumers in China, most of whom are beyond the Company’s control, which may result in actual results, performance or achievements of the Company differ materially from those indicated in forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the documents filed by the Company with the United States Securities and Exchange Commission. The Company assumes no obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required by applicable law.