Nasdaq Notifies 3E Network of Delisting Determination Due to Minimum Bid Price
3E Network Technology Group Limited received a Nasdaq Staff Determination on October 27, 2026, notifying the Company that its Class A ordinary shares face delisting from The Nasdaq Capital Market due to the closing bid price falling below $1.00 per share for 30 consecutive business days from September 15 through October 26, 2026. The Company is ineligible for any compliance period because it completed a 1-for-25 reverse share split on March 16, 2026, within the prior one-year period. The Company intends to timel...
Key takeaways
Nasdaq delisting threat: The Company's Class A ordinary shares were below the $1.00 minimum bid price requirement for 30 consecutive business days from September 15 through October 26, 2026.
Reverse split impact: The Company is not eligible for any compliance period because it effected a 1-for-25 reverse share split on March 16, 2026, within the prior one-year period.
Hearing request pending: The Company intends to request a hearing before the Nasdaq Hearings Panel by November 3, 2026, which will stay the suspension and prevent Form 25-NSE filing pending the Panel's decision.
Compliance measures under evaluation: The Company is actively evaluating measures to regain compliance, including potential capital markets transactions, financing activities, and further share consolidations.
Disclosure changes
- Nasdaq Listing Compliance
The Company received a Nasdaq Staff Determination on October 27, 2026, notifying it that the Staff has determined to delist its Class A ordinary shares from The Nasdaq Capital Market unless the Company timely requests a hearing before an independent Hearings Panel. The determination was issued pursuant to Nasdaq Listing Rule 5810(c)(3)(A)(iv) because the closing bid price was below $1.00 per share for 30 consecutive business days from September 15, 2026 through October 26, 2026, and the Company is not eligible f...
The Company's shares may be delisted from Nasdaq, which would significantly impact shareholder liquidity and the company's ability to raise capital in public markets.
Primary source
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