BEIJING, Dec. 10, 2021 /PRNewswire/ -- Pintec Technology
Holdings Limited (Nasdaq: PT) ("PINTEC" or the "Company"), a
leading independent technology platform enabling financial services
in China, today announced that it
received notification from NASDAQ Listing Qualifications ("NASDAQ")
on December 9, 2019 that it is not in
compliance with the minimum bid price requirement set forth in
Listing Rules for continued listing on the NASDAQ Stock Exchange as
the closing price of the Company's ADSs have been less than
US$1 over a consecutive
30-trading-day period.
In accordance with Listing Rule 5810(c)(3)(A), the Company
has a period of 180 calendar days from the date of notification,
being until June 6, 2022, to regain compliance with the minimum bid
price. In order to regain compliance, the Company's ADSs must
have a closing bid price of at least US$1 for a minimum of 10
consecutive trading days. In the event that the Company does
not regain compliance during the first notice period of 180
calendar days, or by June 6, 2022, the Company may be eligible for
additional time to regain compliance or may face delisting from the
exchange.
The Company is currently in compliance with all other NASDAQ
continued listing standards. The NASDAQ notification does not
affect the Company's business operations or its Securities and
Exchange Commission reporting requirements.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates," "target,"
"confident" and similar statements. Among other things, the
quotations from management in this announcement, as well as
PINTEC's strategic and operational plans, contain forward-looking
statements. PINTEC may also make written or oral forward-looking
statements in its periodic reports to the U.S. Securities and
Exchange Commission, in its annual report to shareholders, in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties. Such
statements are based upon management's current expectations and
current market and operating conditions, and relate to events that
involve known or unknown risks, uncertainties and other factors,
all of which are difficult to predict and many of which are beyond
the Company's control. Forward-looking statements involve inherent
risks, uncertainties and other factors that could cause actual
results to differ materially from those contained in any such
statements. Potential risks and uncertainties include, but are not
limited to, the Company's limited operating history, regulatory
uncertainties relating to the markets and industries where the
Company operates, and the need to further diversify its financial
partners, the Company's reliance on a limited number of business
partners, the impact of current or future PRC laws or regulations
on wealth management financial products, and the Company's ability
to meet the standards necessary to maintain the listing of its ADSs
on the Nasdaq Global Market, including its ability to cure any
non-compliance with Nasdaq's continued listing
criteria. Further information regarding these and other
risks, uncertainties or factors is included in the Company's
filings with the U.S. Securities and Exchange Commission. All
information provided in this press release is as of the date of
this press release, and the Company does not undertake any
obligation to update any forward-looking statement as a result of
new information, future events or otherwise, except as required
under applicable law.
About PINTEC
PINTEC is a leading independent technology platform enabling
financial services in China. By
connecting business and financial partners on its open platform,
PINTEC enables them to provide financial services to end users
efficiently and effectively. The Company offers its partners a full
suite of customized solutions, ranging from digital retail lending,
digital business lending, robotic process automation, to wealth
management and insurance products. Leveraging its scalable and
reliable technology infrastructure, PINTEC serves a wide range of
industry verticals covering online travel, e-commerce,
telecommunications, online education, SaaS platforms, financial
technology, internet search, and online classifieds and listings,
as well as various types of financial partners including banks,
brokers, insurance companies, investment funds and trusts, consumer
finance companies and other similar institutions. For more
information, please visit ir.pintec.com.
For further information, please contact:
Pintec Technology Holdings Ltd.
Phone: +86 (10) 8564-3600
E-mail: ir@pintec.com
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SOURCE Pintec Technology Holdings Limited