Gaxos.ai Regains Compliance with Nasdaq Listing Requirements
26 März 2024 - 1:30PM
Gaxos.ai Inc. (NASDAQ: GXAI), (“Gaxos” or the “Company”), a company
developing artificial intelligence applications across various
sectors, announced today that it received written notice from
the NASDAQ Stock Market LLC (NASDAQ) on March 22, 2024, informing
the Company that it has regained compliance with the minimum bid
price requirement under NASDAQ Listing Rule 5550(a)(2) for
continued listing on the NASDAQ Capital Market.
On July 10, 2023, NASDAQ notified the Company
that its common stock failed to maintain a minimum bid price of
$1.00 over the previous 30 consecutive business days as required by
the Listing Rules of The Nasdaq Stock Market. Since then, NASDAQ
has determined that for the Company’s common stock had traded above
the $1.00 minimum bid price requirement for 10 consecutive trading
days as of March 21, 2024. Accordingly, the Company has regained
compliance with Listing Rule 5550(a)(2), and this matter is now
closed.
About Gaxos.ai Inc.
Gaxos.ai isn’t just developing applications;
it’s aim is to redefine the human-AI relationship. Our offerings
are being expanded to include health and wellness, as well as
gaming. We’re committed to addressing health, longevity, and
entertainment, through AI solutions.
Forward Looking Statements
All statements other than statements of
historical fact in this announcement are forward-looking statements
that involve known and unknown risks and uncertainties and are
based on current expectations and projections about future events
and financial trends that the Company believes may affect its
financial condition, results of operations, business strategy, and
financial needs and are subject to market and other conditions.
Investors can identify these forward-looking statements by words or
phrases such as “may,” “will,” “expect,” “anticipate,” “aim,”
“estimate,” “intend,” “plan,” “believe,” “potential,” “continue,”
“is/are likely to” or other similar expressions. Forward-looking
statements include statements regarding the use of proceeds from
the private placement. The Company undertakes no obligation to
update forward-looking statements to reflect subsequent occurring
events or circumstances, or changes in its expectations, except as
may be required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct, and the Company cautions investors that actual
results may differ materially from the anticipated results and
encourages investors to review other factors that may affect its
future results in the Company’s filings with the SEC.
Gaxos.ai Inc. Company Contact:
Investor RelationsE:
ir@gaxos.aiT: 1-888-319-2499
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