Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]
December 27 2023 - 4:10PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO
RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of December 2023
Commission File Number: 001-41661
JIN MEDICAL INTERNATIONAL LTD.
(Exact name of registrant as specified in its charter)
No. 33 Lingxiang Road, Wujin District
Changzhou City, Jiangsu Province
People’s Republic of China
(Address of Principal Executive Office)
Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form
40-F ☐
Notice of Delisting or Failure to Satisfy a
Continued Listing Rule or Standard
On September 25, 2023, Jin Medical International
Ltd. (the “Company”) received a letter from the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”)
indicating that the Company was not in compliance with Listing Rule 5550(a)(3), which requires the Company to have at least 300 public
holders for continued listing by Nasdaq. On December 18, 2023, the Company received a letter (the “Delisting Letter”) from
Nasdaq notifying the Company that it had failed to provide a detailed plan to support a decision for further time for compliance. Additionally,
Nasdaq staff (the “Staff”) determined that the Company did not meet the 300 Round Lot Holder requirement for initial listing
on the Nasdaq Capital Market. Nasdaq Staff has determined to initiate procedures to delist the Company’s securities from Nasdaq.
Unless the Company requests an appeal of that determination, trading of the Company’s ordinary shares will be suspended at the opening
of business on December 28, 2023.
The Company has submitted a request for a hearing
before the Nasdaq Hearings Panel (the “Panel”), which request will stay the suspension of the Company’s securities pending
the Panel’s decision. Subsequently on December 20, 2023, the Company received a letter from Nasdaq indicating that the delisting
action has been stayed, pending a final written decision by the Panel. The hearing before the Panel will be held on March 14, 2024. At
the hearing, the Company must demonstrate its ability to regain compliance with the particular deficiencies cited by Staff, as well as
its ability to sustain long-term compliance with all applicable maintenance criteria.
The Company is presently conducting an internal
review with its management and external advisors and is exploring various remedial actions to regain compliance with the requirements
set out above.
If at any point before the hearing the Company
believes it has regained compliance with all criteria for continued listing, the Company will notify Nasdaq Staff and also inform the
Hearings Department. If Nasdaq Staff determines that the Company has regained compliance, the Hearings Department will advise the Company
by letter that the hearing is cancelled.
SIGNATURES
Pursuant to the requirements
of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
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JIN MEDICAL INTERNATIONAL LTD. |
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Date: December 27, 2023 |
By: |
/s/ Erqi Wang |
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Erqi Wang |
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Chief Executive Officer |
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