Shineco Inc. filed SEC Form 8-K: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
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Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On June 16, 2025, Shineco Inc. (the “Company”) received a staff determination letter (the “Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it is not in compliance with the minimum bid price requirement as set forth under Nasdaq Listing Rule 5550(a)(2) for continued listing on Nasdaq. Furthermore, pursuant to Listing Rule 5810(c)(3)(A)(iv), the Company is not eligible for any compliance period, since the Company has effected a reverse stock split over the prior one-year period. The Company’s securities will be suspended from trading on The Nasdaq Capital Market at the opening of business on June 25, 2025, and a Form 25-NSE will be filed with the U.S. Securities and Exchange Commission (the “SEC”), which will remove the Company’s securities from listing and registration on The Nasdaq Stock Market (the “Suspension”), unless the Company requests an appeal of such determination to Nasdaq’s Hearings Panel (the “Panel”) by June 23, 2025.
The Company’s operations or trading are not affected by the receipt of the Letter. The Company will be submitting a hearing request form to appeal timely Nasdaq’s determination to the Panel, pursuant to the procedures set forth in the Nasdaq Listing Rule 5800 Series. The Company’s hearing request will stay the Suspension and any further delisting actions, pending a Hearing or any additional time permitted by the Hearings Panel.
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.
| Shineco, Inc. | ||
| Date: June 20, 2025 | By: | /s/ Jennifer Zhan |
Jennifer Zhan, Chief Executive Officer | ||