Prestige Wealth Inc. regains compliance with Nasdaq minimum bid price requirement
20 December 2024 - 8:30AM
Prestige Wealth Inc. (NASDAQ: PWM) (“PWM”, or the “Company”), a
wealth management and asset management services provider based in
Hong Kong, today announced that, on December 18, 2024, it received
notice from The Nasdaq Stock Market LLC (“Nasdaq”) informing the
Company that it has regained compliance with the minimum bid price
requirement under Nasdaq Listing Rule 5550(a)(2) (the “Rule”) for
continued listing on the Nasdaq Capital Market.
On July 23, 2024, PWM a notice from Nasdaq
notified the Company that the minimum bid price per share of its
Class A ordinary shares was below $1.00 for a period of 33
consecutive business days and that the Company did not meet the
Rule. To regain compliance with the Rule, the Company was required
to maintain a minimum closing bid price of $1.00 or more for at
least 10 consecutive business days.
Nasdaq Staff determined that for the 10
consecutive business days between December 4, 2024 to December 17,
2024, the closing bid price of the Company’s Class A ordinary
shares has been at $1.00 per share or greater. Accordingly, the
Company has regained compliance with the Rule, and this matter is
now closed.
About Prestige Wealth Inc.
Prestige Wealth Inc. is a wealth management and
asset management services provider based in Hong Kong, assisting
its clients in identifying and purchasing well-matched wealth
management products and global asset management products. With a
focus on quality service, the Company has retained a loyal customer
base consisting of high-net-worth and ultra-high-net-worth clients
in Asia. Through the Company’s wealth management service, it
introduces clients to customized wealth management products and
provides them with tailored value-added services. The Company
provides asset management services via investment funds that it
manages and also provides discretionary account management services
and asset management-related advisory services to clients. For more
information, please visit the Company’s website:
http://ir.prestigewm.hk.
Forward-Looking Statements
Certain statements in this announcement are
forward-looking statements. These forward-looking statements
involve known and unknown risks and uncertainties and are based on
the Company’s current expectations and projections about future
events that the Company believes may affect its financial
condition, results of operations, business strategy and financial
needs. Investors can find many (but not all) of these statements by
the use of words such as “approximates,” “believes,” “hopes,”
“expects,” “anticipates,” “estimates,” “projects,” “intends,”
“plans,” “will,” “would,” “should,” “could,” “may” or other similar
expressions in this prospectus. The Company undertakes no
obligation to update or revise publicly any forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and the
Company cautions investors that actual results may differ
materially from the anticipated results and encourages investors to
review other factors that may affect its future results in the
Company’s registration statement and other filings with the
SEC.
For more information, please
contact:Prestige Wealth Inc.Investor
Relations DepartmentEmail: ir@prestigefh.com
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