Smart Share receives minimum bid price notice from Nasdaq

Smart Share has received a notification letter from the Listing Qualifications Department of Nasdaq dated August 7 indicating that for the last 34 consecutive business days, the closing bid price of the company’s ADSs was below the minimum bid price of $1.00 per share requirement in Nasdaq Listing Rules. The Nasdaq notification letter has no current effect on the listing or trading of the company’s ADSs on Nasdaq. The company is provided with a compliance period of 180 calendar days, or until February 3, 2025, to regain compliance under the Nasdaq Listing Rules. In the event the company does not regain compliance by February 3, 2025, subject to the determination by the staff of Nasdaq, the company may be eligible for an additional 180-day compliance period. In this case, the company will need to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. The Nasdaq notification letter does not affect the company’s business operations, and the company will take all reasonable measures to regain compliance within the prescribed grace period.