Kaixin warrants face Nasdaq delisting; ordinary shares are not affected
On May 31, 2019, Nasdaq notified Kaixin Auto Holdings that its warrants did not meet its requirement of at least 400 round lot holders, a requirement that applies after the company's April 30, 2019 business combination with Kaixin Auto Group. Unless the company appeals by June 7, 2019, Nasdaq will suspend trading of the warrants at the opening of business on June 11, 2019 and remove them from listing. The company's ordinary shares, which trade as KXIN, are not affected.
- Nasdaq notice dated May 31, 2019, cites Listing Rule 5515(a)(4) and IM-5101-2 for the warrants
- The filing says the company has not shown at least 400 round lot holders for its warrants
- Warrant trading suspension set for June 11, 2019 unless the company appeals by June 7, 2019
- Ordinary shares continue to trade on the Nasdaq Capital Market under the ticker KXIN