CUPERTINO, Calif., Oct. 10,
2023 /PRNewswire/ -- Ambow Education Holding Ltd.
(NYSE American: AMBO) ("Ambow" or the "Company"), an AI
technology-driven educational company with primary operations in
the United States, today announced
that it received a continued listing deficiency notice (the
"Notice") from the NYSE American LLC (the "NYSE American") dated
September 21, 2023, stating that the
Company's securities had been selling for a low price per share for
a substantial period of time and the Company is not in compliance
with the continued listing standards as set forth in Section
1003(f)(v) of the NYSE American Company Guide ("Company
Guide").
The Notice has no immediate effect on the listing or trading of
Ambow's securities.
NYSE American staff determined that Ambow's continued listing is
predicated on it effecting a reverse stock split of its common
stock or otherwise demonstrating sustained price improvement no
later than March 21, 2024. The
Company intends to complete a reverse stock split in order to
regain compliance with the NYSE American's continued listing
standards set forth in the Company Guide in a timely manner.
About Ambow
Ambow Education Holding Ltd. is an AI technology-driven
educational company with primary operations in the United States. Through the operation of
its for-profit colleges and dynamic patented open platform
technology, Ambow offers high-quality, individualized, and dynamic
career education services and products. For more information, visit
Ambow's website at https://www.ambow.com/.
Follow us on Twitter: @Ambow_Education
Safe Harbor Statement
This press release contains statements of a forward-looking
nature. These statements are made under the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of
1995. You can identify these forward-looking statements by
terminology such as "will," "expects," "believes," "anticipates,"
"intends," "estimates" and similar statements. These forward-
looking statements involve known and unknown risks and
uncertainties and are based on current expectations, assumptions,
estimates and projections about Ambow and the industry. All
information provided in this press release is as of the date
hereof, and Ambow undertakes no obligation to update any
forward-looking statements to reflect subsequent occurring events
or circumstances, or changes in its expectations, except as may be
required by law. Although Ambow believes that the expectations
expressed in these forward-looking statements are reasonable, it
cannot assure you that its expectations will turn out to be
correct, and investors are cautioned that actual results may differ
materially from the anticipated results.
For more information, please contact:
Ambow Education Holding Ltd.
Email: ir@ambow.com
Piacente Financial Communications
Tel: +1-212-481-2050
E-mail: ambow@tpg-ir.com
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SOURCE Ambow Education Holding Ltd.
