Why Has iClick Interactive (ICLK) Stock Increased In Extended Session?

At the time of the most recent check, iClick Interactive Asia Group Limited (NASDAQ: ICLK) shares were up 4.56% to trade at $2.75 after the business recently fulfilled a regulatory requirement.

What prerequisite has ICLK met?

The Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) has sent iClick Interactive (ICLK) a notice letter (the “Compliance Notice”) dated November 29, 2022. NASDAQ informed iClick Interactive through the letter that it had once again complied with Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Price Requirement”).

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The closing bid price of the Company’s American depositary shares (the “ADSs”) was below the minimum bid price of $1.00 necessary for continued listing under Nasdaq Listing Rule 5450(a)(1) for 30 consecutive business days, according to a letter from the Nasdaq dated June 14, 2022, as previously reported.

The ratio of ICLK’s ADSs representing its Class A ordinary shares was modified from one (1) ADS representing one (1) Class A ordinary share to one (1) ADS representing five (5) Class A ordinary shares in order to once again be in compliance with the Minimum Bid Price Requirement. The adjustment went into effect on November 14, 2022.

According to the Compliance Notice, iClick Interactive has once again regained compliance with the Minimum Bid Price Requirement and the matter is resolved. The closing bid price of the ICLK’s ADSs has been at $1.00 per ADS or greater for 10 consecutive business days from November 14 through November 28, 2022.

Annual general meeting of ICLK to be held:

In Hong Kong, China, on December 19, 2022, at 8:00 p.m., New York time (December 20, 2022, at 9:00 a.m., Hong Kong time), ICLK will host its 2022 annual general meeting.

The following proposals will be discussed at the annual general meeting:

  • Approving and ratifying Mr. Tiezhu (David) Zhang’s appointment as an iClick Interactive director; and
  • Taking action on any further issues that may appropriately be brought up at the company’s annual general meeting or any adjournment or postponement of any kind.

Only shareholders of record on November 21, 2022, at the close of business, shall be entitled to notice of and voting at the annual general meeting of ICLK, or any adjournment or postponement of that.

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