Mobile Global Esports regains compliance with Nasdaq listing rules

Mobile Global Esports announced that the Company has received notice that it no longer faces delisting on Nasdaq following the return of its per share stock price to $1 or greater for 10 consecutive business days. The Nasdaq Stock Market notified MOGO on December 22, 2022 that its common stock was not in compliance with the minimum bid price as its per share price had been below $1 for 30 consecutive business days. In accordance with the NASDAQ Listing Rule 5810(c)(3)(A), the Company had been provided 180 calendar days, or until June 19, 2023, to regain compliance with NASDAQ Listing Rule 5550(a)(2). To regain compliance, the Company’s ordinary shares must have a closing bid price of at least $1.00 for a minimum of 10 consecutive trading days. Since then, NASDAQ staff determined that for the 10 consecutive business days, from January 5, 2023 to January 19, 2023, the closing bid price of the Company’s common stock has been at $1.00 per share or greater. NASDAQ notified Mobile Global Esports on January 20, 2023 that it has regained compliance with Listing Rule 5550(a)(2) and the matter of delisting is now closed.