iOThree Limited announced on June 6, 2025, that it received a written notification from Nasdaq on June 3, 2025, indicating non-compliance with the $1.00 minimum closing bid price requirement. The company's ordinary shares had traded below this threshold for 30 consecutive business days, from April 21, 2025, to June 2, 2025. This notification has no immediate effect on the listing of the company’s shares.
Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), iOThree has been granted a 180-calendar day compliance period, extending until December 1, 2025, to regain compliance. To satisfy this requirement, the closing bid price of the company’s ordinary shares must be at least $1.00 per share for a minimum of 10 consecutive business days during this period. The company intends to monitor its share price and consider options to cure the deficiency.
Failure to regain compliance by December 1, 2025, could lead to delisting, although a second 180-calendar day compliance period may be granted if other listing requirements are met. This deficiency presents a significant challenge for iOThree, potentially impacting its market liquidity and investor confidence if not resolved within the allotted timeframe.
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