Singapore, June 6, 2025 – iOThree Limited (“iOThree” or the “Company”) (NASDAQ: IOTR), a leading Singapore-based provider of maritime digital technologies, including satellite connectivity and digitalization solutions focused on supporting the maritime industry’s digital transformation, announced today that it received notification from Nasdaq on June 3, 2025. The notification indicated that the Company did not meet the minimum $1.00 closing bid price requirement for 30 consecutive business days, from April 21, 2025, to June 2, 2025, as per Nasdaq Listing Rule 5550(a)(2).
This announcement is made in compliance with Nasdaq Listing Rule 5810(b), which mandates prompt disclosure of deficiency notifications. The Nasdaq notification does not currently affect the listing of the Company’s ordinary shares, which will continue to trade on Nasdaq under the ticker “IOTR”.
According to Nasdaq Listing Rule 5810(c)(3)(A), the Company has been granted a 180-calendar day period, until December 1, 2025, to regain compliance with the minimum bid price requirement. To achieve compliance, the Company’s ordinary shares must close at or above $1.00 per share for at least 10 consecutive business days during this compliance period.
If the Company fails to comply by December 1, 2025, it may be eligible for a second 180-calendar day compliance period. To qualify, the Company must meet the continued listing requirement for the market value of publicly held shares and all other initial Nasdaq listing standards, excluding the minimum bid price requirement. The Company must also provide written notice of its intent to rectify the deficiency during the second compliance period. Failure to regain compliance within the allotted time, including any extensions granted by Nasdaq, will result in a delisting notice from Nasdaq.
The Company plans to monitor its ordinary shares’ closing bid price and may consider available options to address the deficiency and regain compliance with Nasdaq Listing Rules within the given timeframe.
ABOUT iOThree Limited
iO3 is a leading maritime digital technology provider, offering solutions and services to optimize vessel operations, improve safety, and enhance efficiency. Committed to driving digital innovation in the maritime sector, iO3 helps shipowners adapt to evolving market demands and benefit from advanced technologies. For more information, visit and .
Forward-Looking Statements
This release contains forward-looking statements as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are identified by terms such as “believe,” “forecast,” “project,” “intend,” “expect,” “plan,” “should,” “would,” and similar expressions, and encompass all statements that are not historical facts. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that could prevent the Company from achieving its goals or cause actual results to differ from those expressed or implied. Detailed information about the Company and risk factors are available in the Company’s filings with the Securities and Exchange Commission (the “SEC”), accessible on the SEC’s website at www.sec.gov. The Company disclaims any obligation to update these forward-looking statements, except as required by law.
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