Pintec regains compliance with – GuruFocus.com
BEIJING, June 2, 2022 /PRNewswire/ — Pintec Technology Holdings Limited (Nasdaq: PT) (“PINTEC“or the”Company“), a leading independent technology platform enabling financial services in Chinaannounced today that it has received a notification letter from the Nasdaq Stock Market Listing Qualifications Department (“Nasdaq“), advising the Company that it has regained compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5450(a)(1).
As previously announced, the Company was notified by Nasdaq on December 9, 2021 that it did not comply with the minimum bid price requirement set forth in Nasdaq listing rule 5450(a)(1) because the closing bid price of the company’s U.S. Deposit Shares (the “ads“) was below $1.00 for more than 30 consecutive business days. In order to regain compliance with the minimum offer price requirement, the Company has changed the ratio of the ADSs representing its common shares from one (1) ADS representing seven (7) Class A common shares to one (1) ADS representing thirty-five (35) ordinary shares of class A. The change in the ADS ratio became effective on May 16, 2022.
On June 1, 2022the Nasdaq has confirmed to the Company that during the last 10 consecutive business days, starting from May 16, 2022 at May 27, 2022the closing bid price for the common shares of the Company was $1.00 per share or more. As a result, the company has returned to compliance with listing rule 5450(a)(1) and this matter is now closed.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by the terminology such as “will”, “expect”, “anticipate”, “future”, “intend”, “plan”, “believe”, “estimate”, “target”, “confident” and similar statements. Among other things, management’s quotes in this announcement, as well as PINTEC’s strategic and operating plans, contain forward-looking statements. PINTEC may also make written or oral forward-looking statements in its periodic reports to the United States Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials, and in oral statements made by its officers. , directors or employees to third parties. These statements are based on management’s current expectations and current market and operating conditions, and relate to events that involve known and unknown risks, uncertainties and other factors, all of which are difficult to foresee and many of which are beyond the Company’s control. Forward-looking statements involve inherent risks, uncertainties and other factors that could cause actual results to differ materially from those contained in such statements. Potential risks and uncertainties include, but are not limited to, the Company’s limited operating history, regulatory uncertainties related to the markets and industries in which the Company operates, and the need to further diversify its financial partners, the Company’s dependence on a limited number of corporate partners, the impact of current or future PRC laws or regulations on financial wealth management products, and the Company’s ability to meet the standards necessary to maintain the listing of its ADSs on the Nasdaq Global Market, including its ability to remedy any non-compliance with Nasdaq’s Continuing Listing Criteria. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the United States Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statements as a result of new information, future events or otherwise, unless applicable law requires it. .
PINTEC is a leading independent technology platform enabling financial services in China. By connecting business and financial partners on its open platform, PINTEC enables them to deliver financial services to end users effectively and efficiently. The Company offers its partners a full range of customized solutions, ranging from digital personal loans, digital business loans, robotic process automation, wealth management and insurance products. Leveraging its scalable and reliable technology infrastructure, PINTEC serves a wide range of verticals spanning online travel, e-commerce, telecommunications, online education, SaaS platforms, fintech, internet search and online classifieds and listings, as well as various types of financial partners, including banks, brokers, insurance companies, investment funds and trusts, consumer finance companies, and other similar institutions .
For more information, please contact:
Pintec Technology Holdings Ltd.
Telephone: +86 (10) 8564-3600
E-mail: [email protected]
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SOURCEPintec Technology Holdings Limited