ReTo Announces Receipt of Nasdaq Delisting Determination and Plan to Appeal

February 05, 2025 | 04:30

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ReTo Eco-Solutions, Inc., today announced that the Company received a delisting determination notice from The Nasdaq Stock Market LLC ("Nasdaq") on January 29, 2025,

BEIJING, Feb. 5, 2025 /PRNewswire/ -- ReTo Eco-Solutions, Inc. (Nasdaq: RETO) ("ReTo" or the "Company"), a manufacturer of equipment for production of eco-friendly materials in China, today announced that the Company received a delisting determination notice from The Nasdaq Stock Market LLC ("Nasdaq") on January 29, 2025, notifying the Company that given its Class A shares, par value US$0.10 per share (the "Class A Shares"), had a closing bid price at less than $1 over the previous 30 consecutive business days, the Company is not in compliance with the minimum bid price requirement as set forth in Listing Rule 5550(a)(2). Further, because the Company is not eligible for any compliance period since the Company has effected a reverse stock split over the prior one-year period, pursuant to Listing Rule 5810(c)(3)(A)(iv), the Class A Shares will be scheduled for delisting from Nasdaq at the opening of business on February 7, 2025, unless the Company requests an appeal of such determination to a hearings panel (the "Panel").

The Company intends to timely request a hearing before the Panel. The request will stay the suspension of the Company's securities and the delisting process pending the Panel's decision. While the appeal is pending, the Class A Shares will continue to trade on Nasdaq under the symbols "RETO." There can be no assurance that the Panel will grant the Company an extension period or that the Company will ultimately regain compliance with all applicable requirements for continued listing on Nasdaq.

For more information, please visit: http://en.retoeco.com.

By PR Newswire

ReTo Eco-Solutions, Inc.

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