Company: GVH
Filing Date: 2025-05-23
Form Type: F-1
Source: 0001213900-25-046965
Chunk: 43

Company: Globavend Holdings Ltd
Filing Date: 2025-05-23
Form: F-1
Chunk 43
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 non-compliance with Nasdaq’s continued listing requirements and our Ordinary Shares could become subject to delisting from Nasdaq if we fail to regain compliance. Furthermore, the sale of substantial number of Ordinary Shares as a result of this Offering in addition to the Ordinary Shares that may be issued as a result of the exercise of the Warrants issued in this Offering may affect our ability to regain compliance of the minimum bid price requirements required by the Nasdaq Listing Rules and our Ordinary Shares could be delisted from Nasdaq. On August 16, 2024, we received a notice from Nasdaq that we are not in compliance with Nasdaq’s minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) as the minimum bid price of our ordinary share had been below $1.00 per share for 30 consecutive business days (the “Minimum Bid Price Requirement”). Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), we had until February 12, 2025 to regain compliance with the Minimum Bid Price Requirement. To regain compliance, the minimum bid price of our Ordinary Shares must meet or exceed $1.00 per share for a minimum of ten consecutive business days during this grace period. On February 13, 2025, the Company received a letter from Nasdaq, indicating that the Company is granted an additional 180 calendar days, or until August 11, 2025, to regain compliance with the Minimum Bid Price Rule or be subject to delisting. In the event we do not regain compliance with the Minimum Bid Price Requirement by August 11, 2025, our Ordinary Shares will become subject to delisting. We intend to actively monitor the closing bid price for its Ordinary Shares and will consider available options to resolve the deficiency and regain compliance with the Minimum Bid Price Requirement. To cure the deficiency, on April 28, 2025, we obtained shareholder approval to empower the Board to effect a reserve stock spilt of our Ordinary Shares with a ratio ranging from two Ordinary Shares to one Ordinary Shares to two hundred and fifty Ordinary Shares to one Ordinary Share. However, given the substantial number of Ordinary Shares that will be sold as a result of this Offering, we cannot assure you that the Reverse Stock Split is sufficient for us to regain compliance with the Minimum Bid Price Requirement. If we cannot regain compliance of the Minimum Bid Price Requirement, our Ordinary Shares could be delisted from Nasdaq. In addition, Nasdaq Listing Rule 5810(c)(3)(A)(iii) (the