Company: ABTS
Filing Date: 2025-09-11
Form Type: F-3/A
Source: 0001641172-25-027133
Chunk: 22

Company: Abits Group Inc
Filing Date: 2025-09-11
Form: F-3/A
Chunk 22
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180 calendar days, or until October 9, 2024, to regain compliance with the Listing Rule.

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On October 10, 2024, we received notification that Nasdaq has granted an additional 180 calendar day period, or until April 7, 2025, to regain compliance with the Minimum Bid Price Requirement. The notification indicated that we did not regain compliance during the initial 180-day grace period provided under the Listing Rule. In accordance with Nasdaq Marketplace Rule 5810(c)(3)(A), we are eligible for the additional grace period because we met the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on the Nasdaq Capital Market with the exception of the bid price requirement and our written notice to Nasdaq of our intentions to cure the deficiency by effecting a reverse stock split, if necessary.

On December 10, 2024, at the Company’s annual meeting of shareholders, shareholder approved a share consolidation of the Company’s authorized and issued shares at a ratio ranging from any whole number between one-for-six and one-for-fifteen, with the exact ratio within such range to be determined by the Board in its discretion, and an amendment and restatement to the Company’s memorandum and articles of association giving effect to the share consolidation.

On February 13, 2025, theBoard of Directors approved a share consolidation of the Company’s authorized and issued ordinary
shares and preferred shares at the ratio of one-for-fifteen (the “Reverse Split”). The Reverse Split of the ordinary shares
was effected on the Nasdaq Capital Market at the open of business on March 10, 2025. Following the completion of the Reverse Split, the
Company currently has 2,369,995 ordinary shares and 333,333 preferred shares outstanding.

On March 24, 2025, Nasdaq notified
the Company that it has determined that for 10 consecutive business days, from March 10, 2025 through March 21, 2025, the closing bid
price of the Company’s ordinary shares has been at $1.00 per share or greater. As a result, the Company has regained
compliance with Nasdaq’s Minimum Bid Price Requirement.

Summary of Risk Factors

Investing in our ordinary shares involves a high degree of risk. This summary does not address all of the risks that we face. Please refer to the information contained in and incorporated by reference under the heading “Risk Factors” on page