Prestige Wealth (PWM) Newsfilter·2024-12-19 21:30Core Viewpoint - Prestige Wealth Inc. has regained compliance with Nasdaq's minimum bid price requirement, allowing it to continue its listing on the Nasdaq Capital Market [1][3]. Group 1: Compliance with Nasdaq Requirements - On July 23, 2024, Nasdaq notified Prestige Wealth Inc. that its Class A ordinary shares had been below the minimum bid price of $1.00 for 33 consecutive business days, resulting in non-compliance with Nasdaq Listing Rule 5550(a)(2) [2]. - To regain compliance, the company needed to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive business days [2]. - Nasdaq confirmed that from December 4, 2024, to December 17, 2024, the closing bid price of the company's shares was at or above $1.00, thus closing the compliance matter [3]. Group 2: 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 tailored value-added services, along with asset management services through managed investment funds and discretionary account management [4].