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Nature's Miracle Holding Inc. (NASDAQ:NMHI) ("Nature's Miracle" or the "Company"), a leader in vertical farming technology and infrastructure, today issued the following statement in response to the delisting notice (the "Notice") from The Nasdaq Stock Market LLC ("Nasdaq"), which indicated that the Nasdaq Hearings Panel has determined to delist the Company's common stock and warrants from Nasdaq due to the Company's failure to comply with minimum shareholder's equity requirement under Nasdaq Listing Rule 5550(b)(1). Trading in the Company's common stock and warrants was suspended effective at the open of business on January 15, 2025. The Company's common stock and warrants continue to trade on OTC Pink Sheet until the Company relists with Nasdaq.
The Company believes it presented a strong plan to the Nasdaq Hearings Panel, including that the Company entered into a Securities Purchase Agreement ("SPA") with an institutional investor on January 10, 2025. The SPA was disclosed to the public on January 13, 2025, along with details of its closing conditions. This announcement, however, led to a 40% decline in the Company's stock price on the same day.
Posted In: NMHI
