Leo333 : Richtech Robotics received a notice from the Nasdaq Listing Qualifications Department regarding the closing price of its Class B common stocks. On October 25, 2024, Richtech Robotics Inc. (hereinafter referred to as the 'Company') received a notice from the Nasdaq Stock Market, LLC (hereinafter referred to as 'Nasdaq') Listing Qualifications Department, informing the Company that due to the closing price of the Company's Class B common stocks falling below $1.00 per share for 30 consecutive business days, the Company no longer meets the minimum bid price requirement for continued listing on the Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2). Nasdaq's notice does not directly impact the listing of the Company's Class B common stocks on the Nasdaq Capital Market. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been granted an initial compliance period of 180 calendar days, or until April 23, 2025, to regain compliance with the minimum bid requirement. To regain compliance, the closing price of the Company's Class B common stocks must reach or exceed $1.00 per share for at least 10 consecutive business days before April 23, 2025. If the Company fails to regain compliance by April 23, 2025, the Company may be eligible for an additional extension. To meet the requirements, the Company must satisfy the continued listing requirements for public market value of publicly held shares and all other initial listing standards of the Nasdaq Capital Market (excluding the minimum bid price requirement), and notify in writing its intent to cure the deficiency in the second compliance period. If the Company meets these requirements, Nasdaq staff will grant the Company an additional 180 calendar days to regain compliance with the minimum bid requirement. If Nasdaq staff determines that the Company cannot cure the deficiency, or the Company is not eligible for such additional compliance period, Nasdaq will issue a delisting notification, and the Company's Class B common stocks will be delisted. The Company has the right to appeal the delisting decision, and the Class B common stocks will continue to be listed on the Nasdaq Capital Market until the appeal process is completed.

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