2026-03-27 20:22:05
Society Pass Incorporated Receives Nasdaq Staff Letter for Non-Compliance with Minimum Bid Price Requirement
Expected Stock impact: Slightly Negative
On March 26, 2026, Society Pass Incorporated (the 'Company') received a letter from The Nasdaq Stock Market LLC ('Nasdaq') indicating that the bid price for the Company's common stock had closed below the minimum $1.00 per share requirement for continued listing on The Nasdaq Capital Market. This situation has arisen over the last thirty consecutive business days, prompting the Nasdaq staff to issue a notification under Nasdaq Listing Rule 5550(a)(2). The Company has been granted an initial period of 180 calendar days, until September 22, 2026, to regain compliance with this requirement. If the bid price of the Company's common stock closes at $1.00 or more for a minimum of ten consecutive business days before this deadline, Nasdaq will notify the Company of its compliance. The letter does not have an immediate effect on the listing or trading of the Company's common stock. The Company intends to monitor its stock price closely and evaluate available options to ensure compliance with Nasdaq's minimum bid price rule. If compliance is not achieved by the deadline, the Company may be eligible for an additional 180-day compliance period, provided it meets other listing requirements. However, there is no guarantee that the Company will be granted this extension or that it will be able to meet the necessary criteria to avoid delisting.
