UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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FORM
CURRENT REPORT
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Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On January 3, 2024, Singularity Future Technology Ltd. (the “Company”) received a Staff determination letter (the “Letter”) from The Nasdaq Stock Market (“Nasdaq”) notifying the Company of the Staff’s determination to delist the Company’s securities from Nasdaq because of the Company’s failure to regain compliance with the $1 per share bid price requirement required for continued listing on the Nasdaq as set forth in Listing Rule 5550(a)(2) (the “$1 Bid Rule”).
Pursuant to the Letter, unless the Company requests an appeal of the Letter, trading of the Company’s common stock will be suspended at the opening of business on January 12, 2024, and a Form 25-NSE will be filed with the Securities and Exchange Commission to remove the Company’s securities from listing and registration on Nasdaq. The Company has the option to appeal the delisting determination and intends to do so.
The Company intends to appeal the Staff’s determination to a Hearings Panel (the “Panel”). Such a request will allow the Company’s common stock to continue to be listed for trading pending the Panel’s decision.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: January 4, 2024 | Singularity Future Technology Ltd. | |
By: | /s/ Ziyuan Liu | |
Name: | Ziyuan Liu | |
Title: | Chief Executive Officer |