New York-based shipping, chartering and logistics company Sino-Global Shipping America, Ltd. has regained compliance with the Nasdaq minimum bid price requirement of USD 1 per common share on the Nasdaq Capital Market.
Namely, for ten consecutive business days from July 21 to August 3, the closing bid price of the company’s common stock was USD 1 per share or greater.
Therefore, the company received a notification letter from Nasdaq regarding the compliance on August 4, 2016.
On November 6, 2015, Sino-Global Shipping America was notified that the bid price of its common stock had closed below the USD 1 per share minimum requirement for 30 consecutive business days.
The company earlier signed a Strategic Cooperation Agreement with COSCO Logistics (Americas) Inc., through which the parties plan to provide logistics services between China and the United States and develop shipping customers as an end-to-end global logistics service.