Jayud Global Logistics Receives Nasdaq Notification Of Non-Compliance with Listing Rule 5550(b)(1)

Author: Benzinga Newsdesk | May 03, 2024 04:34pm

Jayud Global Logistics Limited (NASDAQ:JYD) ("Jayud" or the "Company"), a leading end-to-end supply chain solution provider based in Shenzhen, specializing in cross-border logistics, today announced that on May 1, 2024, it received a letter from The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it is no longer in compliance with the minimum stockholders' equity requirement for continued listing on the Nasdaq Capital Market. Nasdaq Listing Rule 5550(b)(1) requires companies listed on Nasdaq Capital Market to maintain stockholders' equity of at least $2,500,000. In accordance with Nasdaq Marketplace Rule 5810(c)(2)(A), the Company has 45 calendar days (no later than June 17, 2024) to submit a plan to regain compliance. The Company intends to submit a compliance plan within 45 days of the date of the notification and will evaluate available options to resolve the deficiency and regain compliance. If its plan is accepted, the Company can be granted an extension of up to 180 calendar days from May 1, 2024 to evidence compliance. The notification letter has no immediate impact on the listing of the Company's ordinary shares, which will continue to be listed and traded on The Nasdaq Capital Market.

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