HANGZHOU, China, July 12, 2024 /PRNewswire/ — Nano Labs Ltd (Nasdaq: NA) (“we,” the “Company” or “Nano Labs“), a leading fabless integrated circuit design company and product solution provider in China, today announced that it received a notification letter dated July 11, 2024 (the “Deficiency Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market Inc. (the “Nasdaq”) notifying that the Company is no longer in compliance with the Nasdaq Listing Rule 5450(b)(2)(C) for continued listing due to its failure to maintain a minimum of Market Value of Publicly Held Shares (“MVPHS”) of US$15.0 million.
The Deficiency Letter does not result in the immediate delisting of the Company’s Class A ordinary shares on the Nasdaq Global Market. The Company has 180 calendar days from the date of the Deficiency Letters, or until January 7, 2025 (the “Compliance Period”), to regain compliance the minimum MVPHS requirement. If…
