SINGAPORE, Oct. 11,
2024 /PRNewswire/ -- X3 Holdings Co., Ltd. (Nasdaq:
XTKG) (the "Company" or "XTKG"), a global provider of digital
solutions and technology services spanning diverse industries,
today announced that it has received an extension of 180 calendar
days from the Listing Qualifications Department of
The Nasdaq Stock Market LLC ("Nasdaq") to regain compliance
with the Nasdaq's minimum $1.00 bid price requirement set
forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on
the Nasdaq Capital Market (the "Bid Price Requirement"). As a
result of the extension, the Company has until April 7, 2025, to regain compliance with the Bid
Price Requirement. To regain compliance, the closing bid price of
the Company's ordinary shares must be at least US$1.00 for a minimum of 10 consecutive business
days prior to April 7, 2025. Nasdaq
would then provide a written confirmation of compliance and the
matter will be closed.
To address this issue, the Company intends to continuously
monitor its closing bid price and to effectuate a reverse stock
split, subject to the shareholders' approval at the annual general
meeting, which will be convened on November
4, 2024. Upon the approval and completion of the reverse
stock spilt, the Company expects that it will countervail the
short-term adverse effects on its trading price and cure the
deficiency in due time as well as regain compliance with the Bid
Price Requirement.
The receipt of the extension period has no immediate effect on
the listing or trading of the Company's business operations or the
listing of the Company's ordinary shares, which will continue to
trade uninterrupted on the Nasdaq under the ticker "XTKG".
About X3 Holdings
X3 Holdings Co., Ltd. (Nasdaq: XTKG) is a global provider of
digital solutions and technology services spanning diverse
industries. The Company is operating across diversified business
segments in digital technologies, cryptomining operations,
renewable energy and agriculture technologies. X3 Holdings is
headquartered in Singapore with
subsidiaries and operations globally. For additional information,
please visit www.x3holdings.com.
Safe Harbor Statement
This press release contains forward-looking statements.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. These statements include, among
others, statements regarding the Company's plans to regain
compliance with the minimum bid price requirement. The Company's
actual results may differ materially from those expressed in any
forward-looking statements as a result of various factors and
uncertainties. The reports filed by the Company with the Securities
and Exchange Commission discuss these and other important factors
and risks that may affect the Company's business, results of
operations and financial conditions. For these reasons, among
others, investors are cautioned not to place undue reliance upon
any forward-looking statements in this press release. The Company
undertakes no obligation to publicly revise these forward-looking
statements to reflect events or circumstances that arise after the
date hereof.
For more information, please contact:
Corporate Investor Relations
Email: ir@x3holdings.com
Website: www.x3holdings.com
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SOURCE X3 Holdings Co., Ltd.