Wellchange Holdings receives Nasdaq extension until April 2026 to meet minimum bid price requirement for its shares.
Quiver AI Summary
Wellchange Holdings Company has received a notification from Nasdaq granting it an additional 180-day period, until April 27, 2026, to comply with the minimum bid price requirement of $1.00 per share, after failing to meet this standard during the previous compliance period. The company had been notified on April 30, 2025, about this deficiency. Wellchange plans to regain compliance, potentially through a reverse stock split, and must maintain a closing bid price of at least $1.00 for ten consecutive business days during this extension. If compliance is not achieved by the deadline, Wellchange's securities may face delisting, though they will continue to trade under the symbol "WCT" for now. The company provides enterprise software solutions and aims to assist small to medium businesses in their digital transformation efforts.
Potential Positives
- The company has been granted an additional 180-calendar-day compliance period to meet Nasdaq's minimum bid price requirement, extending its opportunity to regain compliance until April 27, 2026.
- The notification does not have an immediate effect on the listing or trading of the company’s Class A ordinary shares, allowing them to continue trading on the Nasdaq Capital Market under the symbol “WCT.”
- The company has expressed its intention to address the compliance issue, indicating proactive measures such as a potential reverse stock split.
Potential Negatives
- The company has been notified of non-compliance with Nasdaq's minimum bid price requirement, indicating financial challenges.
- Failure to regain compliance by April 30, 2026, could result in delisting from Nasdaq, negatively impacting investor confidence and share value.
- The need for a potential reverse stock split to meet compliance requirements may signal underlying financial instability to investors.
FAQ
What recent notification did Wellchange Holdings receive from Nasdaq?
Wellchange Holdings received a notification granting an additional 180-day compliance period to meet the minimum bid price requirement.
What is the minimum bid price requirement for Wellchange Holdings?
The minimum bid price requirement is $1.00 per share for at least ten consecutive business days.
When is the new compliance deadline for Wellchange Holdings?
The new compliance deadline is April 27, 2026.
What could happen if Wellchange does not regain compliance?
If compliance is not regained, Nasdaq may notify the Company of potential delisting.
How can Wellchange Holdings maintain its listing on Nasdaq?
Wellchange can maintain its listing by achieving the required minimum share price during the compliance period.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
Hong Kong, Oct. 30, 2025 (GLOBE NEWSWIRE) -- Wellchange Holdings Company (NASDAQ: WCT) ("Wellchange" or the "Company"), today announced that it has received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) granting the Company an additional 180-calendar-day compliance period, or until April 27, 2026, to regain compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2).
As previously disclosed, on April 30, 2025, Nasdaq notified the Company that its listed securities did not meet the minimum bid price requirement of $1.00 per share over the preceding 30 consecutive business days. The initial 180-day compliance period expired on October 27, 2025.
The additional compliance period is granted based on the Company's compliance of all other continued listing requirements for the Nasdaq Capital Market, except for the bid price requirement, and providing written notice of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary.
To regain compliance, the Company’s Class A ordinary shares (previously designated as ordinary shares prior to August 7, 2025) must maintain a closing bid price of at least $1.00 per share for a minimum of ten consecutive business days during the compliance period. If the Company does not regain compliance by April 30, 2026, Nasdaq will provide written notification that the Company’s securities are subject to delisting. At that time, the Company would have the right to appeal the determination to a Nasdaq Hearings Panel.
This notification from Nasdaq has no immediate effect on the listing or trading of the Company’s Class A ordinary shares, which will continue to trade on the Nasdaq Capital Market under the symbol “WCT.”
About Wellchange Holdings Company Limited
Wellchange Holdings Company Limited is an enterprise software solution services provider headquartered in Hong Kong. The Company conducts all operations in Hong Kong through its operating subsidiary, Wching Tech Ltd Co. The Company provides customized software solutions, cloud-based software-as-a-service (“SaaS”) platforms, and “white-label” software design and development services. The Company’s mission is to empower our customers and users, in particular, small and medium businesses, to accelerate their digital transformation, optimize productivity, improve customer experiences, and enable resource-efficient growth with our low-cost, user-friendly, reliable and integrated all-in-one Enterprise Resource Planning software solutions.
For more information, please visit the Company’s website: https://www.wchingtech.com/
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties, including the closing of the Offering, and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct. The Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to read the risk factors contained in the Company’s reports it files with the SEC before making any investment decisions regarding the Company’s securities. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law.
For investor and media inquiries, please contact:
Wellchange Holdings Company Limited
Shek Kin Pong, CEO
Email: [email protected]
Company Contact
Bit Origin Ltd
Mr. Jiang Jinghai, Chairman of the Board, CEO and COO
Email:
[email protected]
To keep updated on Bit Origin’s news releases and SEC filings, please subscribe to email alerts at https://bitorigin.io/contact
