QINGDAO, China, July 22, 2022 (GLOBE NEWSWIRE) — SOS Limited (NYSE: SOS) (the “Company” or “SOS”) today announced that it has received a notification letter from the New York Stock Exchange (the “NYSE”) dated July 14, 2022, informing the Company that it has regained compliance with the NYSE’s continued listing criterion of a minimum share price as set forth in Section 802.01C of the NYSE Listed Company Manual.
As previously announced, the Company received a letter from the NYSE dated January 14, 2022 notifying the Company that it was below compliance standards due to the fact that the average closing price of the Company’s American Depositary Shares (the “ADSs”) was less than $1.00 for a consecutive 30 trading-day period. In order to regain compliance with the minimum share price requirement, the Company changed the ratio of the ADSs representing its Class A ordinary shares from one (1) ADS representing ten (10) Class A ordinary shares to one (1) ADS representing five hundred (500) Class A ordinary shares. The change of the ADS ratio became effective on July 6, 2022.
On July 14, 2022, NYSE provided confirmation to the Company that its average closing share price for the consecutive 30-trading days ended July 14, 2022 was above the NYSE’s minimum requirement of $1.00 per share. Accordingly, the Company is no longer considered below the $1 continued listing criterion and has regained compliance on this matter.
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