Prestige Wealth (US:PWM) Newsfilter·2024-07-26 20:30Core Viewpoint - Prestige Wealth Inc. has received a notification from Nasdaq indicating that it no longer meets the minimum bid price requirement for continued listing, with a compliance period until January 20, 2025, to regain compliance [1][2]. Group 1: Compliance Notification - The Company was notified by Nasdaq that it does not meet the continued listing requirement under Nasdaq Listing Rules 5550(a)(2) due to the closing bid price of its Class A ordinary shares for the last 33 consecutive business days [1]. - Nasdaq has granted the Company a compliance period of 180 calendar days, until January 20, 2025, to regain compliance with the minimum bid price requirement [2]. - If the Company fails to regain compliance within this period, it may be eligible for an additional 180 calendar days, provided it meets other listing standards and notifies Nasdaq of its intention to cure the deficiency [2]. Group 2: Company Actions and Intentions - The Company is currently evaluating options to regain compliance and is committed to making reasonable efforts to meet Nasdaq's continued listing requirements [3]. - There is no assurance that the Company will successfully regain compliance with the minimum bid price rule or other Nasdaq listing requirements [3]. Group 3: Company Overview - Prestige Wealth Inc. is a wealth management and asset management services provider based in Hong Kong, focusing on high-net-worth and ultra-high-net-worth clients in Asia [4]. - The Company offers customized wealth management products and services, as well as asset management services through investment funds and discretionary account management [4].