Wang & Lee Group's Nasdaq Listing at Risk Over Low Bid Price

Wang & Lee Group, a Hong Kong-based construction prime and subcontractor, has received a letter from Nasdaq stating that the company's ordinary shares are not in compliance with the minimum bid price requirement of $1.00 per share for continued listing on Nasdaq. The company's securities have a closing bid of $0.10 or less, resulting in non-compliance with the Minimum Bid Requirement.

Hong Kong-based construction prime and subcontractor Wang & Lee Group, Inc. (NASDAQ: WLGS) has received a letter from Nasdaq notifying the company that its ordinary shares are not in compliance with the minimum bid price requirement of $1.00 per share for continued listing on Nasdaq. The company's securities have a closing bid of $0.10 or less, resulting in non-compliance with the Minimum Bid Requirement [1].

On June 25, 2025, Wang & Lee Group received an additional notification letter from Nasdaq, stating that the company's securities will be delisted due to public interest concerns, particularly related to the company's June 9, 2025 issuance of convertible notes [1]. The company has filed a notice of appeal and requested a hearing before a Nasdaq Listing Qualifications Panel to review the delisting decision [1].

Wang & Lee Group has been actively evaluating options to regain compliance with Nasdaq Listing Rules. However, there are no assurances that the company will be able to regain or maintain compliance, or that the appeal to the Panel will be successful [1].

The company, founded in 2014, specializes in the installation of Electrical & Mechanical Systems, including low voltage electrical systems, mechanical ventilation and air-conditioning systems, and fire service systems, among others. Its clients range from small startups to large corporations [1].

In contrast, ParaZero Technologies Ltd. (NASDAQ: PRZO), an aerospace company focused on safety systems for commercial unmanned aerial systems and counter UAS systems, recently regained compliance with Nasdaq's minimum bid price requirement. The company maintained a closing bid price of over $1.00 for ten consecutive trading days, from June 6 to June 23, 2025 [2].

References:
[1] https://www.globenewswire.com/news-release/2025/06/30/3107516/0/en/WANG-LEE-GROUP-Inc-Announces-Receipt-of-Nasdaq-Delisting-Notifications.html
[2] https://www.nasdaq.com/articles/parazero-technologies-regains-compliance-nasdaq-minimum-bid-price-requirement