HONG KONG, Dec. 19, 2024 — Prestige Wealth Inc. (NASDAQ: PWM), a Hong Kong-based wealth and asset management firm, announced regaining compliance with Nasdaq’s minimum bid price requirement on December 18, 2024. Nasdaq notified the company of its compliance with Listing Rule 5550(a)(2).
On July 23, 2024, Nasdaq informed PWM that its Class A ordinary shares’ bid price had fallen below $1.00 for 33 consecutive business days, violating the rule. To regain compliance, PWM needed a minimum $1.00 closing bid price for ten consecutive business days.
Nasdaq confirmed that, from December 4, 2024, to December 17, 2024, the closing bid price consistently met or exceeded $1.00 per share. Therefore, PWM has successfully restored compliance, and the matter is concluded.
About Prestige Wealth Inc.
Prestige Wealth Inc. offers wealth and asset management services in Hong Kong, helping clients find suitable wealth and global asset management products. Focusing on quality service, the company serves a loyal clientele of high and ultra-high-net-worth Asian clients. Services include customized wealth management products, tailored value-added services, investment fund management, discretionary account management, and related advisory services. For details, visit http://ir.prestigewm.hk.
Forward-Looking Statements
This announcement contains forward-looking statements subject to known and unknown risks and uncertainties. These statements reflect the company’s current expectations and projections about future events potentially impacting its financial condition, results, strategy, and financial needs. Such statements often include words like “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may,” and similar expressions. The company disclaims any obligation to update forward-looking statements, except as legally required. While the company believes these statements are reasonable, actual results may differ materially. Investors should review other factors influencing future results in the company’s registration statement and SEC filings.
For more information, please contact:
Prestige Wealth Inc.
Investor Relations Department
Email: ir@prestigefh.com
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