6-K
AIOS Tech Inc. (AIOS)
SECURITIESAND EXCHANGE COMMISSION
Washington,D.C. 20549
FORM 6-K
Reportof Foreign Private Issuer
Pursuantto Rule 13a-16 or 15d-16 Under
theSecurities Exchange Act of 1934
Forthe month of November 2022
CommissionFile Number: 001-37829
NISUNINTERNATIONAL ENTERPRISE
DEVELOPMENTGROUP CO., LTD
(Registrant’s name)
21F,55 Loushanguan Rd
ChangningDistrict Shanghai 200336
People’sRepublic of China
(Address of principal executive offices)
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 ☐
Indicate by check mark if the registrant is submitting the Form 6-K on paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K on paper as permitted by Regulation S-T Rule 101(b)(7): ☐
EXPLANATORY NOTE
On November 22, 2022, The Nasdaq Stock Market LLC (“NASDAQ”) granted Nisun International Enterprise Development Group Co., Ltd. (the “Company”) an additional 180 calendar day period, or until May 22, 2023, to regain compliance with the minimum $1.00 bid price per share requirement for continued listing on NASDAQ Capital Market pursuant to NASDAQ Marketplace Rule 5550(a)(2) (the “Minimum Bid Price Rule” or the “Rule”).
As previously reported, on May 25, 2022, the Company received a notification letter from NASDAQ advising the Company of its noncompliance with the Minimum Bid Price Rule for 30 consecutive business days preceding the notice date. The Company was provided 180 calendar days, or until November 21, 2022, to regain compliance with the Rule. The Company was unable to regain compliance within the initial compliance period.
NASDAQ’s determination to grant the second compliance period was based on the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on the NASDAQ Capital Market, with the exception of the bid price requirement, and the Company’s written notice of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary.
To regain compliance, the bid price of the Company’s common shares must close at or above $1.00 per share for a minimum of ten consecutive business days at any time during the second 180-day compliance period. The Company intends to monitor the closing bid price of its common shares and may, if appropriate, consider implementing available options. There can be no assurance that the Company will be able to regain compliance with the Rule or maintain compliance with the other listing requirements necessary for the Company to maintain the listing of its common shares on NASDAQ.
The Notice has no effect on the listing of the Company’s common shares at this time and the Company’s common shares will continue to trade on NASDAQ under the symbol “NISN”.
The Company issued a press release announcing this matter on November 23, 2022. A copy of the press release is furnished as Exhibit 99.1 to this Report on Form 6-K.
1
EXHIBIT INDEX
| Exhibit | Description |
|---|---|
| 99.1 | Press release dated November 23, 2022 |
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| NISUN INTERNATIONAL ENTERPRISE DEVELOPMENT GROUP CO., LTD | ||
|---|---|---|
| Date: November 23, 2022 | By: | /s/ Xiaoyun Huang |
| Name: | Xiaoyun Huang | |
| Title: | Chief Executive Officer | |
| (Principal Executive Officer) and | ||
| Duly Authorized Officer |
3
Exhibit 99.1
Nisun International Receives NASDAQ MinimumBid Price Requirement Extension
SHANGHAI, China, November 23, 2022 /PRNewswire/ – Nisun International Enterprise Development Group Co., Ltd (NASDAQ: NISN) (“Nisun” or the “Company”), announced today that on November 22, 2022, it received notification from The Nasdaq Stock Market LLC (“NASDAQ”) confirming the Company has been granted an additional 180 calendar day period for compliance under the minimum bid price requirement through May 22, 2023. To regain compliance with NASDAQ’s minimum bid price requirement, the closing bid price of the Company’s common shares needs to be at least $1.00 per share for a minimum of 10 consecutive business days by May 22, 2023.
About Nisun International Enterprise DevelopmentGroup Co., Ltd
Nisun International Enterprise Development Group Co., Ltd (NASDAQ: NISN) is a technology-driven, integrated supply chain solutions provider focused on transforming the corporate finance industry. Leveraging its rich industry experience, Nisun is dedicated to providing professional supply chain solutions to Chinese and foreign enterprises and financial institutions. Through its subsidiaries, Nisun provides users with professional solutions for technology supply chain management, technology asset routing, and digital transformation of tech and finance institutions, enabling the industry to strengthen and grow. At the same time, Nisun continues to deepen the field of industry segmentation through industrial and financial integration, by cultivating/creating an ecosystem of openness and empowerment. Nisun has built a linked platform that incorporates supply chain, banking, securities, trust, insurance, funds, state-owned enterprises, among other businesses. Focusing on industry-finance linkages, Nisun aims to serve the upstream and downstream of the industrial supply chain while also assisting with supply-side sub-sector reform. For more information, please visit http://ir.nisun-nasdaq.com/index.html.
Cautionary Note Regarding Forward-Looking Statements
This press release contains information aboutNisun’s view of its future expectations, plans and prospects that constitute forward-looking statements within the meaning of Section27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in theU.S. Private Securities Litigation Reform Act of 1995. Actual results may differ materially from historical results or those indicatedby these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associatedwith its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its abilityto maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquiredcompanies, technologies and assets into its portfolio of products and services, marketing and other business development initiatives,competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract,hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its abilityto protect its intellectual property. Nisun encourages you to review other factors that may affect its future results in Nisun’sregistration statement and in its other filings with the Securities and Exchange Commission. Nisun assumes no obligation to update orrevise its forward-looking statements as a result of new information, future events or otherwise, except as expressly required by applicablelaw.
Contacts
Nisun International Enterprise Development Group Co., Ltd
Investor Relations
Tel: +86 (21) 2357-0055
Email: ir@cnisun.com
Ascent Investor Relations LLC
Tina Xiao
Email: tina.xiao@ascent-ir.com
Tel: +1 917 609 0333