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BANGKOK, Feb. 28, 2025 (GLOBE NEWSWIRE) -- NewGenIvf Group Limited (NASDAQ: NIVF) (“NewGen” or the “Company”), a comprehensive fertility services provider in Asia helping couples and individuals obtain access to fertility treatments, today announced that it has received a written notice (the “Compliance Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) dated February 27, 2025, informing the Company that it has regained compliance with the minimum bid price requirement set forth under the Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Price Requirement”).
As previously announced, the Company was notified by Nasdaq on October 8, 2024, that the Company was not in compliance with the Minimum Bid Price Requirement as the closing bid price of the Company’s Class A Ordinary Shares (“Ordinary Shares”) was below $1.00 per share for a period of 30 consecutive business days. According to the Compliance Notice, the Company regained compliance with the Minimum Bid Price Requirement because the closing bid price of the Company’s Ordinary Shares have been $1.00 per share or greater for 10 consecutive business days, from February 11, 2025, to February 26, 2025, and the matter is now closed.
Additionally, the Company has received a written notice (the “Transfer Notice”) from the Listing Qualifications Department of Nasdaq dated February 27, 2025, informing the Company that it has received approval to transfer the listing of its securities from the Nasdaq Global Market to the Nasdaq Capital Market. The Company’s Ordinary Shares and publicly traded warrants will continue to trade under the symbols “NIVF” and “NIVFW,” respectively. The transfer of the Company’s listing to the Nasdaq Capital Market is not expected to have any impact on trading in the Company’s securities. This transfer is expected to take effect as of the opening of trading on February 28, 2025.
About NewGen
NewGen is a comprehensive fertility services provider in Asia helping couples and individuals obtain access to fertility treatments. With a mission to aid couples and individuals in building families regardless of fertility challenges, NewGen has dedicated itself to creating increased access to infertility treatment and providing comprehensive fertility services for its customers. NewGen’s management team collectively has over a decade of experience in the fertility industry. NewGen’s clinics are located in Thailand, Cambodia, and Kyrgyzstan, and present a full suite of services for its patients, including comprehensive infertility and assisted reproductive technology treatments, egg and sperm donation, and surrogacy, in the appropriate jurisdictions, respectively. To learn more, visit www.newgenivf.com. The information contained on, or accessible through, NewGen’s website is not incorporated by reference into this press release, and you should not consider it a part of this press release.