Kaixin Auto Granted Compliance Extension

Kaixin Auto Holdings (KXIN) has released an update.

Kaixin Auto Holdings has been granted a temporary exception by the Nasdaq Hearings Panel to meet compliance requirements by December 13, 2024, including a reverse stock split aimed at maintaining the minimum bid price rule. The company must achieve a closing bid price of $1 or more for ten consecutive trading sessions to avoid delisting. An extraordinary general meeting is planned for October 1, 2024, to seek shareholder approval for the reverse stock split.

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