Bitcoin mining company Bit Brother received a delisting notice from Nasdaq and will hold a hearing on February 27

2024-02-04 21:33:25

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ChainCatcher news, Bitcoin mining company Bit Brother Limited announced that on January 30, 2024, it received a notification from the Nasdaq Stock Market. Nasdaq staff, authorized under Nasdaq Listing Rule 5101, decided to delist the company's securities from Nasdaq. The decision by Nasdaq was based on concerns raised by certain warrants issued with cashless exercise provisions during the company's two registered offerings on October 25, 2023, and December 5, 2023, as well as related public interest concerns arising from such transactions.

Since Nasdaq has approved the company to hold a hearing before the Nasdaq Hearing Panel ("Panel") on February 27, 2024, this notification will not have a direct impact on the company's listing and trading. Nasdaq will continue to suspend any delisting or suspension actions until the conclusion of the hearing.

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