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EpicQuest Education's Nasdaq Notification Letter

On March 5, 2025, EpicQuest Education Group International Limited (NASDAQ: EEIQ) received an important notification from the Nasdaq Listing Qualifications Department, indicating that the company currently does not meet the required minimum bid price for maintaining its listing on the Nasdaq Capital Market. This notification comes as the company's common shares have traded below the $1.00 mark for a period exceeding 30 consecutive business days.

Understanding the Notification

The Nasdaq Listing Rule 5550(a)(2) mandates that companies listed on its Capital Market must maintain a minimum bid price of $1.00 per share. This requirement is crucial as it helps ensure that equities maintain sufficient market value, which reflects investor confidence and can affect trading activity.

EpicQuest’s shares failing to meet this threshold for 30 days triggered the notification. However, the letter also provides a pathway for the company to regain compliance. EpicQuest has been granted a 180-day period—until September 1, 2025—to address the deficiency. The company can achieve compliance by ensuring that its stock price remains at or above the $1.00 minimum for at least 10 consecutive business days during this timeframe. If successful, Nasdaq will issue a confirmation of compliance, allowing the company to maintain its listing uninterrupted.

Consequences of Non-Compliance

Should EpicQuest fail to meet the required bid price by the stipulated deadline, there remains hope. The company may still be eligible for an extension if it adheres to other Nasdaq listing criteria, barring the minimum bid price requirement. To initiate this process, however, EpicQuest must formally notify Nasdaq of its intention to rectify the situation during this compliance period. Notably, the notification from Nasdaq does not immediately impact the trading status of EpicQuest’s shares, allowing them to continue trading under the ticker symbol