MultiMetaVerse Holdings Faces Nasdaq Delisting Threat for Failing to Meet Listing Requirements

SHANGHAI, Oct. 18, 2024 — MultiMetaVerse Holdings Limited (the “Company”) received a notification from Nasdaq stating that the Company was not meeting the minimum bid price of $1.00 per share and the minimum market value of listed securities of $35 million. This non-compliance extends to the Bid Price Rule (Nasdaq Listing Rule 5550(a)(2)) and the MVLS Rule (Nasdaq Listing Rule 5550(b)(2)). The Company failed to achieve compliance within the extended period ending on October 14, 2024. The Company has until October 22, 2024 to request a hearing with the Nasdaq Hearings Panel (the “Panel”), which it intends to do. If the Company does not request a hearing by that date, trading of its Class A ordinary shares and warrants will be suspended on October 24, 2024, and a Form 25-NSE will be filed with the Securities and Exchange Commission (“SEC”) to remove the securities from listing and registration on Nasdaq. In the event that the Company’s securities are delisted from Nasdaq, they are expected to trade over-the-counter.

About MultiMetaVerse Holdings Limited

MultiMetaVerse Holdings Limited (NASDAQ: MMV) is an animation and entertainment company focused on delivering high-quality, immersive entertainment experiences through original content, user-generated content, and professionally produced user-generated content. MMV began animation production in 2015 under its signature Aotu World brand, which has gained a large following with its inspiring storyline and unique graphic style, particularly among young audiences in China. By leveraging its established user base, MMV has built a diverse product portfolio, including animated content, comic books, short videos, collectibles, stationery, consumer products, and mobile games across the Aotu World brand. It has also developed and expanded new brands, stories, and characters, such as Neko Album.

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