UTime Limited Received Nasdaq Notification Letter Regarding Bid Price Deficiency
UTime Limited - Ordinary Shares (WTO)
Company Research
Source: GlobeNewswire
NEW YORK, Oct. 17, 2024 (GLOBE NEWSWIRE) -- UTime Limited (“UTime” or the “Company”) (Nasdaq: WTO), a mobile device manufacturing company committed to providing cost effective products and solutions to consumers globally and helping low-income individuals from established and emerging markets, announced today that on October 10, 2024, the Company received a notification letter from the Nasdaq Listing Qualifications Staff of The NASDAQ Stock Market LLC (“Nasdaq”) notifying the Company that the minimum bid price per share for its ordinary shares has been below $1.00 for a period of 30 consecutive business days and the Company therefore no longer meets the minimum bid price requirements set forth in Nasdaq Listing Rule 5550(a)(2). The notification received has no immediate effect on the listing of the Company’s ordinary shares on Nasdaq. Under the Nasdaq Listing Rules, the Company has until April 8, 2025, to regain compliance. If at any time during such 180-day period the closing b
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