Pop Culture Group Co Ltd (CPOP) News & EventsCPOPPop Culture Group Co Ltd

Pop Culture Group Notified by Nasdaq of Listing Deficiency

Pop Culture Group received a notification letter from the Nasdaq Listing Qualifications Department dated November 10, notifying the company that it is not in compliance with the minimum bid price requirement for continued listing on Nasdaq. Nasdaq Listing Rule 5550(a)( requires listed securities to maintain a minimum bid price of $1.00 per share for a period of 30 consecutive business days. The Notification Letter does not impact the company's listing on The Nasdaq Capital Market at this time. The company has been provided 180 calendar days, or until May 11, 2026, to regain compliance with the Nasdaq Listing Rules. To regain compliance, the company's Class A ordinary shares must have a closing bid price of at least US$1.00 for a minimum of 10 consecutive business days. The company may be eligible for additional time to regain compliance or may face delisting. The company intends to monitor the closing bid price of its Class A ordinary shares and may, if appropriate, consider implementing available options, including, but not limited to, implementing a reverse share split of its outstanding Class A ordinary shares, to regain compliance with the minimum bid price requirement.

Pop Culture Group to Offer 5 Million Shares at $1.20 in Registered Direct Sale

Pop Culture Group announced that it has entered into a securities purchase agreement with institutional investors for the sale of 5M of its Class A ordinary shares in a registered direct offering at a purchase price of $1.20 per share. The gross proceeds from the offering are expected to be approximately $6M before deducting offering expenses payable by the company. The company intends to use the net proceeds from the offering for working capital and general corporate purposes. The closing of the offering is expected to occur on or about September 29, subject to the satisfaction of customary closing conditions. FT Global Capital is acting as the exclusive placement agent for the offering.