$1.830
-0.446 (-24.38%)At close
ORIS News
ORIS Events
Oriental Rise Updates on Nasdaq Delisting Decision
Oriental Rise provided an update regarding the decision of the Nasdaq Hearings Panel to delist the company's ordinary shares from the Nasdaq Capital Market. On June 22, the company received a written decision from the Panel denying the company's request for continued listing and providing that trading in the company's ordinary shares would be suspended at the open of trading on June 24. Prior to the Panel's decision, the company's 1-for-4 reverse stock split became effective at the open of trading on June 22. On that day, the company's ordinary shares opened at $2.04 per share and closed at $2.42 per share, above Nasdaq's $1.00 requirement. On June 23, the company's counsel received an email from Nasdaq stating that the Panel was reviewing the company's request for reconsideration, that the company would be notified within 15 calendar days, and that the Panel had chosen to stay the suspension while considering the request. On June 24, Nasdaq advised the company's counsel that its prior email had inadvertently omitted the word "not" and should instead have stated that the Panel, in fact, had chosen not to stay the suspension. Accordingly, trading in the company's ordinary shares on Nasdaq was suspended, while the Panel continued to consider the company's request for reconsideration, which is ongoing. The company will continue to pursue its request for reconsideration. If the Panel does not reconsider its decision, the company currently intends to request that the Nasdaq Listing and Hearing Review Council review the Panel's decision. Unless and until the Panel reverses or modifies its decision, or the company is successful in a subsequent appeal, the company expects that its ordinary shares will be quoted in the over-the-counter market under the company's OTC trading symbol, ORISF.
Oriental Rise Faces Delisting Decision from Nasdaq
Oriental Rise announced that it received a staff determination letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC on April 15, 2026, notifying the Company that Nasdaq has determined to delist the Company's ordinary shares from The Nasdaq Capital Market. According to the Determination Letter, Nasdaq determined that the closing bid price of the Company's listed securities had been below $1.00 per share for the previous 30 consecutive business days and that the Company therefore no longer complies with Nasdaq Listing Rule 5550(a)(2), which requires listed securities to maintain a minimum bid price of $1.00 per share.
Oriental Rise Holdings Plans to Acquire PoDu White Tea Beverage Brand
Oriental Rise Holdings entered into a non-binding letter of intent to acquire the PoDu white tea beverage brand and certain related assets. PoDu is a ready-to-drink botanical tea beverage positioned around high-altitude white tea from Zherong County, Fujian Province. The Company believes the Proposed Transaction is highly aligned with its long-term strategic objectives, with a focus on extending the value chain of its core white tea category into RTD products, diversifying product formats, and enhancing brand reach into higher-frequency consumer occasions. Oriental Rise will conduct comprehensive due diligence on the PoDu brand and related assets and, subject to satisfactory results, proceed with negotiations toward a definitive transaction agreement. The LOI is non-binding, and the completion of any transaction remains subject to the completion of due diligence, the execution of definitive agreements, and other customary closing conditions. The Company expects the Proposed Transaction, if completed, to complement its existing tea garden resources in Zherong County, Ningde City, Fujian Province, and to further advance Oriental Rise's strategy of selectively expanding across the tea value chain-from cultivation and processing to product innovation, branding, distribution, and consumer product development. Zherong is known for its high-altitude tea-growing environment and significant day-night temperature variation, which contribute to the development of higher-quality tea leaves suitable for premium and value-added products. If completed, the Company expects the Proposed Transaction to generate meaningful strategic benefits by combining Oriental Rise's public company platform, capital market access, supply-chain management, quality control capabilities, and nationwide distribution network with PoDu's RTD product format and brand positioning. Expected benefits include a more diversified product mix with increased exposure to higher-margin consumer products, improved ability to capture health-oriented demand trends, stronger brand presence across additional consumption occasions, and enhanced operating leverage to support future growth initiatives.
iSpecimen Shares Rise 36.9% After $5.5M Private Placement Announcement
Equity futures were marginally higher after the close, slightly curtailing the session's mild losses as markets contend with light year-end volumes and a pullback in heavyweight tech and AI names that stalled last week's strong rally. Comments from various Fed members in minutes from the last FOMC meeting on the likelihood of future rate cuts continue to weigh on the markets as well.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER -iSpecimenup 36.9% after announcing the pricing of a $5.5M private placementOriental Riseup 23.8% after entering a non-binding letter of intent to acquire Hubei Daguan TeaOne Stop Systemsup 6.3% after agreeing to sell Bressner Technology to Hiper Euro for $22.4MDot Aiup 1.9% after saying it is not aware of any undisclosed material adverse events, has not executed any equity dilution transactions, and has not authorized any sales of company shares by officers or directors in connection with recent market activityLOWER -Smart Powerrdown 10.5% after filing to sell 16.36M shares of common stock for holders
Oriental Rise Plans to Acquire Controlling Stake in Hubei Daguan Tea Industry
Oriental Rise announced that it has entered into a non-binding letter of intent to acquire a controlling equity interest in Hubei Daguan Tea Industry, a tea producer and processor based in Yingshan County, Hubei Province. Oriental Rise will conduct due diligence on Daguan Tea and, subject to satisfactory results, proceed with negotiations toward a definitive transaction agreement. The LOI is non-binding, and the completion of any transaction remains subject to due diligence, execution of definitive agreements, and other customary conditions.
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