Society Pass granted extension to regain compliance with Nasdaq rules

Society Pass has received an extension until 20 May 2024 to regain compliance with NASDAQ Listing Rules. The NASDAQ extension letter was filed in a Form 8-K with the U.S. Securities and Exchange Commission on 22 November 2023. NASDAQ determined that SOPA is eligible for an additional 180 calendar day period, or until 20 May 2024, to regain compliance with NASDAQ’s minimum $1.00 per share bid price requirement, as set forth in NASDAQ Listing Rule 5550(a)(2). This determination is pursuant to the discretionary authority granted to NASDAQ by the SEC and is subject to compliance with other continued listing requirements. Nasdaq’s determination is based on the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on the Capital Market with the exception of the bid price requirement. Society Pass Inc has expressed its intention to actively monitor the bid price for its common stock and to consider implementing available options to regain compliance with the Minimum Bid Price Rule. The Company’s management team continues to focus on executing its business plan and delivering value to its shareholders.