Ten Holdings Inc. has announced that it received two deficiency letters from The Nasdaq Stock Market LLC regarding its compliance with listing rules. The first letter, received on June 30, 2025, indicates that the company's common stock has closed below the minimum bid price of $1.00 per share for 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2). The second letter highlights non-compliance with Nasdaq Listing Rule 5605 due to the resignation of independent directors David Price and Justin Sherrock. The company has until December 29, 2025, to regain compliance with the bid price rule, potentially by implementing a reverse stock split. If they fail to meet the deadline, they may be granted an additional 180-day period to comply, provided other listing requirements are met. If compliance is not achieved, the company's stock may face delisting, subject to a potential appeal to a Nasdaq Hearings Panel.
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