NEW
YORK, June 22, 2023 /PRNewswire/ -- On
June 14, 2023, Etao International
Co., Ltd. (the "Company") received a bid price deficiency letter
from The Nasdaq Stock Market, LLC ("Nasdaq") notifying the Company
that listed securities to maintain a minimum bid price of
$1 per share. Based upon the closing
bid price for the last 30 consecutive business days, the Company no
longer meets this requirement. However, the Rules also provide the
Company a compliance period of 180 calendar days in which to regain
compliance.
If at any time during this 180 day period the closing bid price
of the Company's security is at least $1 for a minimum of ten consecutive business
days, NASDAQ will provide the Company written confirmation of
compliance and this matter will be closed. Please note that if the
Company chooses to implement a reverse stock split, it must
complete the split no later than ten business days prior to the
expiration date of December 11, 2023
in order to regain compliance.
Media Contact: Wilson Liu
wilson.liu@etao.cloud
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SOURCE ETAO International Co., Ltd.