Current Report Filing (8-k)
June 20 2023 - 3:12PM
Edgar (US Regulatory)
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CN
0001711012
2023-06-15
2023-06-15
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported):
June 15, 2023
SENMIAO TECHNOLOGY LIMITED |
(Exact name of registrant as specified in its charter) |
Nevada |
|
001-38426 |
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35-2600898 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
16F, Shihao Square, Middle Jiannan
Blvd.
High-Tech Zone, Chengdu
Sichuan, People’s Republic of China |
|
610000 |
(Address of principal executive offices) |
|
(Zip Code) |
Registrant’s telephone number, including
area code: +86 28 61554399
Not Applicable |
(Former name or former address, if changed since last report) |
Check the appropriate box
below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following
provisions:
¨ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
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¨ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
¨ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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¨ |
Pre-commencement communications pursuant
to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant
to Section 12(b) of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
Common Stock, par value $0.0001 per share |
|
AIHS |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether
the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule
12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company,
indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued
Listing Rule or Standard; Transfer of Listing.
On June 15, 2023, Senmiao
Technology Limited (the “Company”) received a deficiency notice from The Nasdaq Stock Market (“Nasdaq”) informing
the Company that its common stock, par value $0.0001 per share (the “Common Stock”), fails to comply with the $1 minimum bid
price required for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) based upon the closing bid price
of the Common Stock for the 30 consecutive business days prior to the date of the notice from Nasdaq.
Nasdaq’s notice has
no immediate effect on the listing of the Common Stock on The Nasdaq Capital Market. Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the
Company has been provided an initial compliance period of 180 calendar days, or until December 12, 2023, to regain compliance with the
minimum bid price requirement. To regain compliance, the closing bid price of the Common Stock must meet or exceed $1.00 per share for
a minimum of ten consecutive business days prior to December 12, 2023.
If the Company is unable to
regain compliance by December 12, 2023, the Company may be eligible for an additional 180 calendar day compliance period to demonstrate
compliance with the bid price requirement. To qualify, the Company will be required to meet the continued listing requirement for market
value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price
requirement, and will need to provide written notice to Nasdaq of its intention to cure the deficiency during the second compliance period,
by effecting a reverse stock split, if necessary. If the Company does not qualify for the second compliance period or fails to regain
compliance during the second 180-day period, Nasdaq will notify the Company of its determination to delist the Common Stock, at which
point the Company would have an opportunity to appeal the delisting determination to a Hearings Panel.
The Company intends to monitor
the closing bid price of the Common Stock and may, if appropriate, consider implementing available options to regain compliance with the
minimum bid price requirement under the Nasdaq Listing Rules.
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: June 20, 2023 |
SENMIAO TECHNOLOGY LIMITED |
|
|
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By: |
/s/ Xi Wen |
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Name: |
Xi Wen |
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Title: |
Chief Executive Officer |
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