Megan Holdings Faces Nasdaq Deficiency Warning After Shares Fall Below $1 for 30 Days
Megan Holdings Limited received a Nasdaq notice after Class A shares fell below the $1.00 minimum bid price for 30 business days from March 30 to May 11, 2026. The company must restore a $1.00 bid for ten business days within 180 days or consider a reverse stock split.
1. Nasdaq Notification
On May 12, 2026 Megan Holdings was informed that its Class A ordinary shares failed to maintain the required $1.00 minimum bid price for 30 business days, spanning March 30 through May 11, as outlined in Nasdaq Listing Rule 5550(a)(2). The notice does not immediately affect the listing or trading status of the shares.
2. Compliance Timeline
Nasdaq grants a 180-calendar-day compliance period ending November 9, 2026. The company must achieve a closing bid price of at least $1.00 per share for ten consecutive business days within this window to regain compliance.
3. Remedial Options
If Megan fails to meet the bid price requirement, it may be eligible for an additional compliance period by demonstrating required market value and other listing standards, excluding the bid price rule, and filing a written intent. This process could involve a reverse stock split to elevate the share price.