Society Pass Incorporated Receives Nasdaq Delisting Notification for Falling Below Minimum Bid Price Requirement
Key Highlights:
- Society Pass Incorporated (“the Company”) has received a formal notice from The Nasdaq Stock Market LLC indicating non-compliance with the minimum bid price requirement of \$1.00 per share for continued listing on The Nasdaq Capital Market.
- The notice was received on March 26, 2026, after the Company’s common stock closed below \$1.00 per share for 30 consecutive business days.
- The Company has until September 22, 2026, to regain compliance with the minimum bid price rule.
- If compliance is not regained, the Company may be eligible for an additional 180 calendar day grace period, subject to certain conditions.
- The potential for a reverse stock split is mentioned as a possible strategy to regain compliance.
- There is no assurance the Company will be able to meet the compliance requirements, nor that Nasdaq will grant any extensions or relief from delisting.
- Shareholders are advised this situation could lead to delisting from Nasdaq, which may significantly affect the liquidity and value of the Company’s shares.
Details of the Nasdaq Notification
On March 26, 2026, Society Pass Incorporated received a written notification (the “Nasdaq Staff Letter”) from The Nasdaq Stock Market LLC. The letter stated that for the past 30 consecutive business days, the bid price of the Company’s common stock had closed below the minimum \$1.00 per share requirement per Nasdaq Listing Rule 5550(a)(2). As a result, the Company is not in compliance with Nasdaq’s continued listing standards.
Potential Actions and Timeline
The Company now has a 180-calendar day period, ending on September 22, 2026, to regain compliance. To do so, the bid price of the Company’s common stock must close at or above \$1.00 per share for at least 10 consecutive business days during this period. If the Company does not regain compliance by that date, it may be eligible for an additional 180-day compliance period if it meets other Nasdaq listing requirements, with the exception of the bid price rule.
To qualify for this additional period, the Company must:
- Meet all other initial listing standards for The Nasdaq Capital Market except for the bid price requirement.
- Provide written notice to Nasdaq of its intention to cure the deficiency, which may include plans for a reverse stock split.
If Nasdaq believes the Company will not be able to cure the deficiency, or the Company does not meet the eligibility criteria, the Company’s securities will be subject to delisting. The Company may appeal such a determination to a Nasdaq hearings panel, but there is no assurance that an appeal would be successful.
Potential Impact to Shareholders
- This notification is material and potentially price-sensitive, as it jeopardizes the continued listing of Society Pass’s shares on Nasdaq. Delisting would likely limit the liquidity and marketability of the Company’s common stock, which could result in a significant decline in share price.
- The Company has stated its intention to monitor the bid price and consider available options, including a reverse stock split. Such corporate actions can affect both the share count and the share price, and typically require shareholder approval.
- No assurance is provided that the Company will regain compliance, be granted any further extensions, or avoid delisting.
- Investors should be aware that further deterioration in the Company’s compliance status, or an actual delisting, could cause increased volatility and downward pressure on the stock price.
Forward-Looking Statements
The Company has included forward-looking statements regarding its intent to monitor the bid price and consider available options, including a reverse stock split, as well as the potential for regaining Nasdaq compliance. These statements are subject to substantial risks and uncertainties, including but not limited to the Company’s ability to raise its share price, Nasdaq’s willingness to grant extensions or relief, and other risk factors as detailed in the Company’s SEC filings.
Corporate Information
- Company Name: Society Pass Incorporated
- Address: 80 Robinson Road, #17-01B, Singapore 068898
- Phone: +65 6518-9382
- Trading Symbol: SOPA
- Exchange: Nasdaq Stock Market LLC
- CEO: Raynauld Liang
- Form Type: 8-K filed March 27, 2026 (reporting event as of March 26, 2026)
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors are strongly encouraged to review all official filings with the Securities and Exchange Commission and consult with their financial advisors before making investment decisions. Forward-looking statements are subject to risks and uncertainties that could cause actual outcomes to differ materially from those anticipated. No assurance can be given that Society Pass Incorporated will regain compliance with Nasdaq listing standards or avoid delisting.
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