Key Takeaways
- Canaan receives Nasdaq discover after ADS value trades under $1 for 30 consecutive days.
- Firm has till July 13, 2026 to regain compliance whereas shares proceed buying and selling.
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Canaan Inc, a crypto mining {hardware} agency, has acquired a deficiency discover from Nasdaq after the closing bid value of its American depositary shares remained under $1.00 for 30 consecutive enterprise days.
The discover, dated January 14, 2026, cites non-compliance with Nasdaq Itemizing Rule 5550(a)(2), which requires a minimal bid value of $1.00. Nasdaq mentioned the notification has no speedy affect on the itemizing or buying and selling of Canaan’s securities, which is able to proceed to commerce on the Nasdaq International Market throughout the compliance interval.
Beneath Nasdaq guidelines, Canaan has been granted a 180 calendar day window, by way of July 13, 2026, to regain compliance. To take action, the corporate’s ADS value should shut at or above $1.00 for not less than 10 consecutive enterprise days inside that interval.
If Canaan doesn’t regain compliance by the deadline, the corporate could also be eligible for a further compliance interval, topic to Nasdaq approval. This may require submitting a switch utility, paying a $5,000 non refundable charge, assembly different preliminary itemizing requirements, and confirming its intent to treatment the deficiency, doubtlessly by way of a reverse inventory cut up.
Canaan mentioned it should proceed monitoring its share value and intends to take affordable measures to revive compliance. The corporate disclosed the discover in accordance with Nasdaq guidelines requiring immediate public disclosure of itemizing deficiencies.
