01/21/2026 | Press release | Distributed by Public on 01/21/2026 16:01
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
As previously disclosed, on July 18, 2025, Advanced Biomed Inc. (the "Company") received a written notice from the Listing Qualifications Staff of The Nasdaq Stock Market LLC (the "Staff") notifying the Company 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 under Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price Requirement"). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company was provided a compliance period of 180 calendar days, or until January 14, 2026 (the "Compliance Period"), to regain compliance with the Minimum Bid Price Requirement.
The Company did not regain compliance with the Minimum Bid Price Requirement by January 14, 2026. Accordingly, by letter dated January 16, 2026, the Staff notified the Company that its securities would be scheduled for delisting from The Nasdaq Capital Market and suspended at the opening of business on January 27, 2026, unless the Company requested an appeal of this determination by January 23, 2026 before a Hearings Panel (the "Panel").
On January 21, 2026, the Company appealed the Staff's delisting determination by submitting a hearing request to the Panel, which stayed the suspension of the Company's securities and the filing of the Form 25-NSE pending the Panel's decision. The Company expects to present to the Panel a plan intended to enable the Company to regain compliance with the Minimum Bid Price Requirement, including a reverse stock split approved by the Company's stockholders on January 12, 2026, which is expected to become effective on or after February 13, 2026. However, there can be no assurance that the Panel will grant the Company's request for continued listing or that the Company will be able to evidence compliance within any period of time that may be granted by the Panel.