CLPS receives Nasdaq notice of non-compliance

CLPS announced that it received a written notice from The Nasdaq Stock Market dated June 10, 2024, indicating that the company’s closing bid price for its common shares fell below $1.00 per share for 30 consecutive trading days, which is not in compliance with Nasdaq Listing Rule 5450(a)(1). The Nasdaq notification does not affect CLPS‘s current listing or trading of the company’s securities on the Nasdaq Global Market. Pursuant to the Nasdaq Listing Rule 5810(c)(3)(A), the company has been granted a 180-calendar day compliance period, until December 9, 2024, to regain compliance with the minimum bid price requirement. To regain compliance, CLPS’s common shares must have a closing bid price of at least $1.00 per share for a minimum of 10 consecutive business days. If the company achieves this within the compliance period, Nasdaq will provide written confirmation of compliance and the matter will be closed.