LICN News & Events

Lichen China announced that it has received a letter from The Nasdaq Stock Market, notifying that the Company is not in compliance with Nasdaq Listing Rule 5810(c)(3)(A)(iii), as the Company's securities had a closing bid price of $0.10 or less for eleven consecutive trading days from January 28, 2025 through February 11, 2025. The letter indicated that, as a result, the Nasdaq staff has determined to delist the Company's ordinary shares from The Nasdaq Capital Market. The Company intends to request such hearing to appeal the Delisting Determination before that date, which will stay the suspension of its securities from the date of the request, during which time such securities will continue to be listed on The Nasdaq Capital Market.

Lichen China announced the completion of its acquisition of the remaining 40% equity interest in Bondly Enterprises, a prominent domestic consulting firm specializing in business process management and informationization. This acquisition follows Lichen China's initial purchase of 60% equity in Bondly in 2024, and marks a significant step in Lichen China's strategy to fully integrate Bondly's advanced technologies and AI capabilities into its operations. The acquisition, valued at $5.33M underscores Lichen China's commitment to strengthening its foothold in the AI and technology sectors. By acquiring the remaining 40% equity, Lichen China aims to gain full control over Bondly's cutting-edge technologies and highly skilled team, which are critical to the Company's future growth and innovation in AI-driven solutions. With the completion of this transaction, Bondly becomes a wholly-owned subsidiary of Lichen China, enabling deeper integration of Bondly's technologies and services into Lichen China's existing offerings. The synergies between the two companies are expected to drive significant revenue growth and enhance Lichen China's competitive edge in the financial, taxation, and AI sectors.

Lichen China announced that it has received a written notification from the Listings Qualifications Department of The Nasdaq Stock Market on January 23. The Notification Letter advised the company that for the last 30 consecutive business days, the minimum closing bid price per share for the company's ordinary shares was below the $1.00 per share requirement for continued listing under Nasdaq Listing Rule 5550(a)(2).