SHANGHAI, June 2, 2023
/PRNewswire/ -- Nisun International Enterprise Development Group
Co., Ltd (Nasdaq: NISN) ("Nisun" or the "Company") announced today
that it has received a Staff determination letter (the "Letter")
from the Listing Qualifications Department of The Nasdaq Stock
Market LLC ("NASDAQ") dated May 26,
2023 notifying the Company of the Staff's determination to
delist the Company's securities from The Nasdaq Capital Market
because the Company had failed to satisfy the requirement that the
closing bid price of its securities remain at $1.00 or higher as required by Nasdaq Listing
Rule 5550(a)(2).
Pursuant to the Letter, unless the Company requests an appeal of
the Letter, trading of the Company's Class A Common Shares will be
suspended at the opening of business on June
6, 2023, and a Form 25-NSE will be filed with the Securities
and Exchange Commission, which will remove the Company's securities
from listing and registration on the Nasdaq Stock Market.
On June 1, 2023, the Company
received notification from NASDAQ confirming the Company has
regained compliance with NASDAQ's minimum bid price requirement
under Listing Rule 5550(a)(2). NASDAQ noted this matter is now
closed.
About Nisun International Enterprise Development Group Co.,
Ltd
Nisun International Enterprise Development Group Co., Ltd
(NASDAQ: NISN) is a technology-driven, integrated supply chain
solutions provider focused on transforming the corporate finance
industry. Leveraging its rich industry experience, Nisun is
dedicated to providing professional supply chain solutions to
Chinese and foreign enterprises and financial institutions. Through
its subsidiaries, Nisun provides users with professional solutions
for technology supply chain management, technology asset routing,
and digital transformation of tech and finance institutions,
enabling the industry to strengthen and grow. At the same time,
Nisun continues to deepen the field of industry segmentation
through industrial and financial integration, by
cultivating/creating an ecosystem of openness and empowerment.
Nisun has built a linked platform that incorporates supply chain,
banking, securities, trust, insurance, funds, state-owned
enterprises, among other businesses. Focusing on industry-finance
linkages, Nisun aims to serve the upstream and downstream of the
industrial supply chain while also assisting with supply-side
sub-sector reform. For more information, please visit
http://ir.nisun-international.com/.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains information about Nisun's view of
its future expectations, plans and prospects that constitute
forward-looking statements. Actual results may differ materially
from historical results or those indicated by these forward-looking
statements as a result of a variety of factors including, but not
limited to, risks and uncertainties associated with its ability to
raise additional funding, its ability to maintain and grow its
business, variability of operating results, its ability to maintain
and enhance its brand, its development and introduction of new
products and services, the successful integration of acquired
companies, technologies and assets into its portfolio of products
and services, marketing and other business development initiatives,
competition in the industry, general government regulation,
economic conditions, dependence on key personnel, the ability to
attract, hire and retain personnel who possess the technical skills
and experience necessary to meet the requirements of its clients,
and its ability to protect its intellectual property. Nisun
encourages you to review other factors that may affect its future
results in Nisun's registration statement and in its other filings
with the Securities and Exchange Commission. Nisun assumes no
obligation to update or revise its forward-looking statements as a
result of new information, future events or otherwise, except as
expressly required by applicable law.
Contacts
Nisun International Enterprise Development Group Co.,
Ltd
Investor Relations
Tel: +86 (21) 2357-0055
Email: ir@cnisun.com
Ascent Investor Relations LLC
Tina Xiao
Tel: +1 (917) 609 0333
Email: tina.xiao@ascent-ir.com
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SOURCE Nisun International Enterprise Development Group Co.,
Ltd