Lixiang Education receives Nasdaq notices for non-compliance with listing rules

Lixiang Education (NASDAQ:LXEH) said it received two written notices from the listing qualifications department of the Nasdaq indicating that the Company was not in compliance, which require it to maintain a minimum bid price of $1 per share, and maintain a minimum market value of publicly held shares of $5M for continued listing on the Nasdaq.
Based on the closing bid price of Lixiang Education (LXEH) from March 20, 2023 to May 2, 2023, the company no longer meets the requirement of the Minimum Bid Price Rule as per the written notices received from the listing qualifications department of the Nasdaq.
The company has been given a deadline of 180 calendar days, or until October 30, 2023, to regain compliance with the Minimum Bid Price Rule to maintain its listing on the Nasdaq Global Market.