HONG
KONG, Feb. 4, 2025 /PRNewswire/ -- mF
International Limited (the "Company" or "mF International")
(Nasdaq: MFI), a Hong Kong-based
experienced financial trading solutions provider, today announced
that it has received an extension of 180 calendar days (the
"Extension Notice") from The Nasdaq Stock Market LLC ("Nasdaq") to
regain compliance with the Nasdaq's minimum $1.00 bid price requirement set forth in Nasdaq
Listing Rule 5550(a)(2) for continued listing on Nasdaq (the "Bid
Price Requirement"), following the expiration of the initial 180
calendar days period to regain compliance on January 28, 2025.
As previously announced, the Company received a written
notification from Nasdaq dated August 1,
2024, indicating that because the closing bid price of the
Company's ordinary shares for the previous 30 consecutive business
days was below $1.00 per share, the
Company was not in compliance with the Bid Price Requirement, and
Nasdaq granted the Company a period of 180 calendar days, or until
January 28, 2025, to regain
compliance with the Bid Price Requirement.
As of the date hereof, the Company has not regained compliance
with the Bid Price Requirement. Pursuant to the Extension Notice,
the Company is eligible for an additional 180 calendar day period,
or until July 28, 2025, to regain
compliance with the Bid Price Requirement. To regain compliance,
the Company's Class A ordinary shares must have a closing bid price
of at least US$1.00 per share for a
minimum of 10 consecutive business days. In the event that
compliance cannot be demonstrated by July
28, 2025, the staff of Nasdaq will provide written
notification that the Company's securities will be delisted.
The Company intends to monitor the closing bid price of its
Class A ordinary shares between now and July
28, 2025, and is considering its options to regain
compliance with the Bid Price Requirement. The Company believes
that the Extension Notice does not affect the Company's business
operations, its U.S. Securities and Exchange Commission reporting
requirements, or its contractual obligations.
About mF International Limited
mF International Limited is a British
Virgin Islands holding company with three operating
subsidiaries in Hong Kong. The
Company's principal Hong Kong
subsidiary, m-FINANCE Limited ("m-FINANCE"), is a Hong Kong-based experienced financial trading
solution provider principally engaged in the development and
provision of financial trading solutions via internet or platform
as software as a service, or SaaS. m-FINANCE has approximately 20
years of experience providing real-time mission critical forex,
bullion/commodities trading platform solutions, financial
value-added services, mobile applications and financial information
for brokers and institutional clients in the region. With clients
located over mainland China,
Hong Kong and Southeast Asia, m-FINANCE provides customers
with the mF4 Trading Platform, Bridge and Plugins, CRM System, ECN
System, Liquidity Solutions, Cross-platform "Broker+" Solution,
Social Trading Apps and other value-added services. For more
information, please visit the Company's website:
https://ir.m-finance.com/.
Forward-Looking Statements
Certain statements in this announcement are forward-looking
statements. These forward-looking statements involve known and
unknown risks and uncertainties and are based on the Company's
current expectations and projections about future events that the
Company believes may affect its financial condition, results of
operations, business strategy and financial needs. Investors can
find many (but not all) of these statements by the use of words
such as "approximates," "believes," "hopes," "expects,"
"anticipates," "estimates," "projects," "intends," "plans," "will,"
"would," "should," "could," "may" or other similar. The Company
undertakes no obligation to update or revise publicly any
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 registration statement and other
filings with the U.S. Securities and Exchange Commission.
For investor and media inquiries, please contact:
mF International Limited
Investor Relations
Department
Email: ir@m-finance.net
ICR, LLC
Robin Yang
Email: mFInternational.IR@icrinc.com
Phone: +1 (646) 308-1475
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SOURCE mF International Limited
