Current Report Filing (8-k)
19 October 2017 - 7:33AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
Of the Securities Exchange Act of
1934
October 12, 2017
Date of report (date of earliest event
reported)
BORQS TECHNOLOGIES, INC.
(Exact name of registrant as specified
in its charter)
British Virgin Islands
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001- 37593
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N/A
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(State or other jurisdiction of
incorporation or organization)
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(Commission File Number)
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(I.R.S. Employer
Identification Number)
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Tower A, Building B23,
Universal Business Park
No. 10 Jiuxiangqiao Road
Chaoyang District, Beijing, 100015
China
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(Address of Principal Executive Offices)
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(86)
10-5975-6336
(Registrant’s telephone
number, including area code)
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2 below):
☐ Written communications pursuant to Rule 425 under
the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under
the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if
the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 3.01 Notice of Delisting
or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On October 12, 2017, Borqs Technologies,
Inc. (“Borqs” or the “Company”) received a notice from the staff of The NASDAQ Stock Market LLC (“Nasdaq”)
indicating that the Company is not in compliance with Nasdaq Listing Rules 5505(a)(3) and 5515(a)(4), given that the Company’s
common stock and common stock purchase warrants (“warrants”) do not meet the minimum initial listing requirements for
The Nasdaq Capital Market of 300 round lot holders of common stock and 400 round lot holders of warrants, respectively. As a result,
the Company’s common stock and warrants would be subject to delisting unless the Company requests a hearing before a Nasdaq
Hearings Panel (“Panel”). Accordingly, the Company intends to request a hearing before the Panel. The hearing request
will stay any suspension or delisting action pending the completion of the hearing and the expiration of any extension period granted
by the Panel. Borqs intends to undertake a program of actions to increase the number of round lot holders of its common stock so
as to meet the applicable listing requirements.
Item 9.01.
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Financial Statements and Exhibits.
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(d) Exhibits
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
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BORQS TECHNOLOGIES, INC.
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Date: October 18, 2017
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/s/ Anthony K. Chan
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Anthony K. Chan
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Chief Financial Officer
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