Wing Yip Food Fails to Meet Nasdaq Minimum Bid Price Requirement
Wing Yip Food announced that the company received a written notification from Nasdaq notifying the company that it is not in compliance with the minimum bid price requirement set forth in the Nasdaq Listing Rules for continued listing on the Nasdaq. Nasdaq Listing Rule 5550 requires listed securities to maintain a minimum bid price of $1.00 per share, and Nasdaq Listing Rule 5810 provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. Based on the closing bid price of the company's American depositary shares for the 30 consecutive business days from November 7 to December 19, the company no longer meets the minimum bid price requirement.
