Core Viewpoint - WORK Medical Technology Group LTD has received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market [1][2]. Company Compliance Status - Nasdaq Listing Rule 5550(a)(2) mandates a minimum bid price of US$1.00 per share, and the company failed to meet this requirement for 30 consecutive business days from February 24, 2025, to April 4, 2025 [2]. - The company has until October 6, 2025, to regain compliance by ensuring its Class A ordinary shares have a closing bid price of at least US$1.00 for a minimum of 10 consecutive business days [3]. Business Operations - The receipt of the Notification Letter does not impact the company's business operations [3]. - The company plans to monitor its share price and may consider options such as a reverse share split to regain compliance with Nasdaq's minimum bid price requirement [4]. Company Overview - WORK Medical Technology Group LTD, through its subsidiary, develops and manufactures Class I and II medical devices, with a diverse product portfolio of 21 products, including customized masks and medical consumables [5]. - The company's products are sold in 34 provincial-level regions in China and in over 30 countries worldwide, with 17 products registered with the U.S. Food and Drug Administration [5].
WORK Medical Technology Group LTD Receives Nasdaq Notification Regarding Minimum Bid Price Deficiency