Borqs Technologies Receives Nasdaq Extension Until October 24, 2023 To Satisfy Minimum Bid Price Requirement
Portfolio Pulse from Benzinga Newsdesk
Borqs Technologies (NASDAQ: BRQS) has received an extension from Nasdaq until October 24, 2023, to regain compliance with the minimum $1 bid price requirement. The company plans to achieve this by selling its solar subsidiary, Holu Hou Energy LLC (HHE), and possibly effecting a reverse stock split.
June 07, 2023 | 1:04 pm
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Borqs Technologies has been granted an extension by Nasdaq to regain compliance with the minimum $1 bid price requirement. The company plans to sell its solar subsidiary HHE and may consider a reverse stock split.
The extension granted by Nasdaq provides Borqs Technologies with additional time to regain compliance with the minimum bid price requirement. The planned sale of HHE and the potential reverse stock split could positively impact the company's stock price in the short term.
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