Earlyworks Co., Ltd. Announces Receipt Of Nasdaq Delisting Determination And Plan To Request A Hearing Before The Nasdaq Hearings Panel
Portfolio Pulse from Benzinga Newsdesk
Earlyworks Co., Ltd. (NASDAQ:ELWS), a Japanese company specializing in blockchain technology, has received a delisting determination from Nasdaq due to non-compliance with the minimum bid price requirement. The company failed to meet the $1.00 per share minimum bid price and the $5,000,000 minimum stockholders' equity for continued listing. Earlyworks plans to appeal the determination and is considering options, including a reverse stock split, to regain compliance.

May 06, 2024 | 8:39 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Earlyworks Co., Ltd. is at risk of being delisted from Nasdaq due to failure to meet the minimum bid price and stockholders' equity requirements. The company intends to appeal the decision and explore measures like a reverse stock split.
The news directly impacts Earlyworks Co., Ltd. as it highlights the company's current non-compliance with Nasdaq's listing requirements, which poses a significant threat to its listing status. The intention to appeal and consider a reverse stock split indicates potential volatility in its stock price in the short term. The negative score reflects the immediate risk of delisting, which typically leads to a negative perception among investors and could result in a decrease in stock price.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100