Shanghai, China, May 07, 2024 (GLOBE NEWSWIRE) -- Golden Sun Health Technology Group Limited, formerly known as Golden Sun Education Group Limited (the “Company” or “Golden Sun”) (Nasdaq: GSUN), a provider of tutorial services in China, today announced that the Company received a written notification (the "Notification Letter") from the Nasdaq Stock Market LLC ("Nasdaq") on May 3, 2024, informing the Company that it has regained compliance with the Nasdaq's minimum bid price requirement.
Key Points:
- Shanghai, China, May 07, 2024 (GLOBE NEWSWIRE) -- Golden Sun Health Technology Group Limited, formerly known as Golden Sun Education Group Limited (the “Company” or “Golden Sun”) (Nasdaq: GSUN), a provider of tutorial services in China, today announced that the Company received a written notification (the "Notification Letter") from the Nasdaq Stock Market LLC ("Nasdaq") on May 3, 2024, informing the Company that it has regained compliance with the Nasdaq's minimum bid price requirement.
- According to the Notification Letter, as of May 2, 2024, Golden Sun has maintained a closing bid price of $1.00 per share for ten consecutive trading sessions following a 1 for 10 reverse stock-split on April 19, 2024.
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Wednesday, April 17, 2024
Shanghai, China, April 17, 2024 (GLOBE NEWSWIRE) -- Golden Sun Health Technology Group Limited, formerly known as Golden Sun Education Group Limited (the “Company” or “Golden Sun”) (Nasdaq: GSUN), a provider of tutorial services in China, today announced that the shareholders of the Company had approved a proposed 1-for-10 share consolidation of the Company’s ordinary shares (the "Share Consolidation") at an extraordinary general meeting of shareholders (the “Meeting”) held on April 11, 2024, at 8th Floor, Administration Building, 390 East Tiyuhui Road, Hongkou District, Shanghai, China.
Key Points:
- Shanghai, China, April 17, 2024 (GLOBE NEWSWIRE) -- Golden Sun Health Technology Group Limited, formerly known as Golden Sun Education Group Limited (the “Company” or “Golden Sun”) (Nasdaq: GSUN), a provider of tutorial services in China, today announced that the shareholders of the Company had approved a proposed 1-for-10 share consolidation of the Company’s ordinary shares (the "Share Consolidation") at an extraordinary general meeting of shareholders (the “Meeting”) held on April 11, 2024, at 8th Floor, Administration Building, 390 East Tiyuhui Road, Hongkou District, Shanghai, China.
- The primary objective of the Share Consolidation is to enable the Company to regain compliance with Nasdaq Listing Rule 5550(a)(2) relating to the minimum bid price per share of the Company's Class A ordinary shares.
- As a result of the Share Consolidation, every ten issued and outstanding ordinary shares of a par value of US$0.0005 each will be consolidated into one issued and outstanding ordinary share of a par value of US$0.005 each.
- No fractional shares will be issued; instead, any fractional shares that would have resulted from the Share Consolidation will be rounded up to the next whole number.
According to the Letter, the Company had not regained compliance with the Minimum Bid Requirement as of March 20, 2024 and is not eligible for a second 180-day period.
Key Points:
- According to the Letter, the Company had not regained compliance with the Minimum Bid Requirement as of March 20, 2024 and is not eligible for a second 180-day period.
- Specifically, the Company does not comply with the initial listing requirement of $5,000,000 minimum stockholders’ equity for The Nasdaq Capital Market, as contemplated for a second 180-day period.
- The Company plans to appeal the Determination to the Panel in due course.
- A hearing request will stay the suspension of the Company’s securities and the filing of Form 25-NSE pending the Panel’s decision.
Shanghai, China, Feb. 09, 2024 (GLOBE NEWSWIRE) -- Golden Sun Health Technology Group Limited, formerly known as Golden Sun Education Group Limited (the “Company” or “Golden Sun”) (Nasdaq: GSUN), a provider of tutorial services in China, today announced its strategic transition into the wellness industry in China.
Key Points:
- Shanghai, China, Feb. 09, 2024 (GLOBE NEWSWIRE) -- Golden Sun Health Technology Group Limited, formerly known as Golden Sun Education Group Limited (the “Company” or “Golden Sun”) (Nasdaq: GSUN), a provider of tutorial services in China, today announced its strategic transition into the wellness industry in China.
- In December 2023, the Company launched the Fuding White Tea oral health products on various e-commerce platforms in China, including JD.com, Taobao, Red, and Yundinghuo.
- Additionally, in 2023, the Company made equity investments in three Chinese companies that operate in the wellness industry.
- Mr. Xueyuan Weng, Chairman and Chief Executive Officer of the Company, commented, “We are thrilled to enter a new chapter with our strategic transition into the wellness industry.
