Kaixin Holdings (KXIN) has announced that it received correspondence from the Nasdaq Hearings Panel, indicating the Panel’s decision to grant a temporary exception to comply with Nasdaq Stock Market LLC’s Bid Price Rule by December 13, 2024. The company intends to implement a reverse stock split by November 30, 2024, to meet the Bid Price Rule requirements by the stipulated date. Failure to comply with these requirements by December 13, 2024, will result in the delisting of its securities.Additionally, the granted temporary exception is contingent upon meeting specific milestones. Kaixin Holdings must secure shareholder approval for the reverse stock split on or before October 1, 2024, and must execute the reverse stock split by November 30, 2024.The material has been provided by InstaForex Company – www.instaforex.com
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