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AGM Group Holdings Receives Nasdaq Non-compliance Notification

AuthorVlad Schepkov
Published 05/19/2023, 05:38 PM
Updated 05/19/2023, 05:40 PM
AGM Group Holdings (AGMH) Receives Nasdaq Non-compliance Notification

AGM Group Holdings Inc. (AGMH) today announced that it received a notification letter dated May 17, 2023 (the "Notification Letter") from Nasdaq notifying that the Company is not in compliance with the requirements for continued listing set forth in Nasdaq Listing Rule 5250(c)(1) since the Company did not timely file its annual report on Form 20-F for the fiscal year ended December 31, 2022 (the "2022 Form 20-F") with the Securities and Exchange Commission (the "SEC").

The Notification Letter has no immediate effect on the listing or trading of the Company's shares on Nasdaq. Pursuant to the Nasdaq Listing Rules, the Company has 60 calendar days from the date of the Notification Letter to submit a plan to regain compliance with Nasdaq Listing Rules (the "Compliance Plan"). If Nasdaq accepts the Compliance Plan, it may grant the Company an extension of up to 180 calendar days or until November 13, 2023, to regain compliance.

AGM Group continues to work diligently to complete the Form 20-F and file it with SEC as soon as reasonably practicable. The Company expects to submit a plan to regain compliance or file its Form 20-F within the timeline prescribed by Nasdaq.

This announcement is made in compliance with the Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a notification of deficiency.

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