Hong Kong, Dec. 30, 2024 — Garden Stage Limited (NASDAQ: GSIW) announced receipt of a Nasdaq notification letter (the “Notice”) on December 24, 2024. The Notice stated that GSIW isn’t meeting the minimum bid price requirement for continued listing on the Nasdaq Capital Market. The closing bid price for its ordinary shares was below $1.00 per share for 30 consecutive business days, violating Nasdaq Listing Rules 5550(a)(2) and 5810(c)(3)(A). GSIW has until June 23, 2025, to achieve compliance.

The Notice doesn’t immediately impact GSIW’s operations or listing; trading continues uninterrupted under the ticker “GSIW.” Compliance will be achieved if the bid price closes at or above $1.00 per share for at least 10 consecutive business days before June 23, 2025. Nasdaq will confirm compliance in writing upon meeting this condition.

If compliance isn’t achieved by June 23, 2025, GSIW may be eligible for an extension. This requires meeting the market value and other initial listing standards for the Nasdaq Capital Market (excluding the minimum bid price) and notifying Nasdaq of its intent to remedy the deficiency.

About Garden Stage Limited

GSIW, through its operating subsidiaries, is a Hong Kong-based financial services provider offering placing and underwriting, securities dealing and brokerage, asset management, and investment advisory services. These services are provided through I Win Securities Limited (licensed for Type 1 regulated activities under the SFO in Hong Kong) and I Win Asset Management Limited (licensed for Type 4 and Type 9 regulated activities under the SFO in Hong Kong). I Win Securities Limited is a Stock Exchange Participant with one Stock Exchange Trading Right and a participant of the HKSCC.

Safe Harbor Statement

This announcement includes forward-looking statements under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements, often including terms like “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” and “confident,” may also appear in SEC filings, annual reports, press releases, written materials, and statements by officers, directors, or employees. Forward-looking statements involve inherent risks and uncertainties. Actual results could differ materially. Further information on these risks is in the Company’s SEC filings. Information is current as of the press release date, and the Company has no obligation to update it except as legally required.

For more information, please contact:

Garden Stage Limited
Chan Sze Ho
Chief Executive Officer
Email:
Tel: (852) 2688 6333