Nasdaq Issues Delisting Notice To Erayak Power

Author: Benzinga Newsdesk | September 09, 2025 07:23am

Erayak Power Solution Group Inc. (NASDAQ:RAYA), a leading manufacturer, designer, and exporter of high-quality products in the power supply industry, today announced it received a letter from The Nasdaq Stock Market LLC ("Nasdaq") on September 3, 2025, notifying that the Company is not in compliance with Nasdaq Listing Rule 5810(c)(3)(A)(iii) (the "Low Priced Stocks Rule"), as the Company's securities had a closing bid price of $0.10 or less for the last ten consecutive trading days. The letter indicated that, as a result, the Nasdaq staff determined to delist the Company's securities from The Nasdaq Global Market (the "Delisting Determination").

The letter also indicated that the bid price of the Company's Class A ordinary shares had closed at less than $1 per share over the previous 30 consecutive business days, and as a result, the Company is not in compliance with Listing Rule 5450(a)(1) (the "Rule"). Normally, a company is provided 180 calendar days to regain compliance with the Rule in accordance with Listing Rule 5810(c)(3)(A). However, the Nasdaq determined that the Company's securities also had a closing bid price of $0.10 or less for the last ten consecutive trading days. Accordingly, the Company became subject to the provisions contemplated under the Low Priced Stocks Rule. As a result, the Nasdaq determined to delist the Company's securities from The Nasdaq Capital Market. The Company was provided until September 10, 2025 to request an appeal of the Delisting Determination to the Hearings Panel (the "Panel"). If the Company fails to request an appeal by September 10, 2025, trading of the Company's securities will be suspended at the opening of business on September 12, 2025, and a Form 25-NSE will be filed with the SEC, which will remove the Company's securities from listing and registration on The Nasdaq Stock Market.

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