HONG KONG - VS Media Holdings Limited (NASDAQ:VSME), a company specializing in digital creator network management, announced today that it has regained compliance with the Nasdaq's minimum bid price requirement.
Following a period of 10 consecutive business days, from June 18, 2024, to July 2, 2024, the closing bid price of VS Media's common stock remained at or above the $1.00 threshold. This achievement meets the standards set by Nasdaq Listing Rule 5550(a)(2), effectively resolving the previous bid price deficiency.
The Nasdaq's confirmation on July 3, 2024, marks the end of concerns regarding the company's listing status. VS Media, established in 2013, operates a network of over 1,500 digital creators and partners with more than 1,000 brands to facilitate content-driven social commerce. The company's reach spans across Asia Pacific, including markets such as Hong Kong, China, Taiwan, Singapore, and is expanding internationally.
This news comes as a positive development for VS Media, as maintaining compliance with Nasdaq requirements is crucial for the company's continued access to capital markets and investor confidence. The company's efforts to stabilize its stock price have paid off, ensuring its place on the Nasdaq exchange.
Investors are advised that certain statements in the announcement are forward-looking and involve risks and uncertainties. These statements, which include potential future business strategies and market operations, are based on current expectations and projections.
VS Media has stated it will not update forward-looking statements unless required by law, and while the company believes in the reasonableness of these expectations, there is no guarantee that future results will align with these predictions.
The return to compliance with Nasdaq's listing rules is based on a press release statement from VS Media Holdings Limited, and investors are encouraged to consider all factors that may impact the company's future results.
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