SINGAPORE, March 21, 2025 — Davis Commodities Limited (referred to as “the Company”) announced that it received a notification on March 19, 2025, from Nasdaq’s Listing Qualifications staff. The notification stated that the Company’s closing bid price between February 3, 2025, and March 18, 2025, did not meet the minimum bid price requirement of $1 per share for continued listing under Nasdaq Listing Rule 5550(a)(2).
The notification does not immediately impact the listing of the Company’s shares. Nasdaq has granted the Company a 180-day period, until September 15, 2025, to regain compliance with the listing requirement. If compliance is not achieved within this period, the Company may be eligible for an additional 180 days if it meets the requirements for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market (except the bid price). To qualify for the extension, the Company must also provide written notice of its intention to rectify the deficiency during the second compliance period, potentially through a reverse stock split. However, if the Company cannot cure the deficiency or is otherwise ineligible, Nasdaq will notify the Company that its securities are subject to delisting.
The Company is currently exploring options to meet the requirement and intends to do so within the given timeframe. While the Company will make every reasonable effort to comply with Rule 5550(a)(2), there is no guarantee that it will succeed or that it will comply with other Nasdaq continued listing requirements.
Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. These statements are based on the Company’s current expectations and projections regarding future events that may affect its financial condition, operating results, business strategy, and financial needs. These statements can often be identified by the use of words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may,” or similar expressions. The Company is not obligated to update or revise any forward-looking statements to reflect new information, events, or changes in expectations, except as required by law. While the Company believes these expectations are reasonable, it cannot guarantee their accuracy and advises investors that actual results may differ materially. Investors are encouraged to review other factors that could affect the Company’s future results as detailed in its filings with the SEC.
About Davis Commodities Limited
Davis Commodities Limited, based in Singapore, is an investment holding company actively involved in the global agricultural commodities market. The company trades and distributes essential commodities like sugar, rice, and edible oils, maintaining a strong presence in Asia, Africa, and the Middle East. As a company listed on Nasdaq, Davis Commodities aims to create value through diversification, innovation, and sustainable business practices.
CONTACT: For more information, please contact: Davis Commodities Limited Investor Relations Department Email: investors@daviscl.com Celestia Investor Relations Dave Leung Phone: +852 9494-3413 Email: investors@celestiair.com
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