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QINGDAO, China, July 22, 2022 (GLOBE NEWSWIRE) -- SOS Limited (NYSE: SOS) (the "Company" or "SOS") today announced that it has received a notification letter from the New York Stock Exchange (the "NYSE") dated July 14, 2022, informing the Company that it has regained compliance with the NYSE's continued listing criterion of a minimum share price as set forth in Section 802.01C of the NYSE Listed Company Manual.
As previously announced, the Company received a letter from the NYSE dated January 14, 2022 notifying the Company that it was below compliance standards due to the fact that the average closing price of the Company's American Depositary Shares (the "ADSs") was less than $1.00 for a consecutive 30 trading-day period. In order to regain compliance with the minimum share price requirement, the Company changed the ratio of the ADSs representing its Class A ordinary shares from one (1) ADS representing ten (10) Class A ordinary shares to one (1) ADS representing five hundred (500) Class A ordinary shares. The change of the ADS ratio became effective on July 6, 2022.
On July 14, 2022, NYSE provided confirmation to the Company that its average closing share price for the consecutive 30-trading days ended July 14, 2022 was above the NYSE's minimum requirement of $1.00 per share. Accordingly, the Company is no longer considered below the $1 continued listing criterion and has regained compliance on this matter.
Additional information concerning these and other factors that may impact our expectations and projections can be found in our periodic filings with the SEC, including our Annual Report on Form 20-F for the fiscal year ended December 31, 2021.
SOS's SEC filings are available publicly on the SEC's website at https://secure.ice/?www.sec.gov. SOS disclaims any obligation to update the forward-looking statements, whether as a result of new information, future events or otherwise. Shareholders who are interested in the 2021 Annual Report can click on the following link to download it free of charge: 2021 Annual Report
Safe Harbor Statement
This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. SOS may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about SOS’ beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and SOS does not undertake any obligation to update such information, except as required under applicable law.
About SOS Limited
SOS is a new high-tech company with artificial intelligence and blockchain as its core technologies. Through core technologies such as AI, block technology, satellite communication and big data, the company provides digital technical services for emergency rescue, big data marketing, international trade, digital assets and other industries, and provides customers with one-stop digital overall solutions. For more information, visit www.sosyun.com.
SOURCE SOS Limited
Chief Financial Officer