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Aurora Mobile Regains Compliance with Nasdaq Minimum Bid Price Requirement

By: via GlobeNewswire

SHENZHEN, China, Dec. 28, 2023 (GLOBE NEWSWIRE) -- Aurora Mobile Limited (NASDAQ: JG) (“Aurora Mobile” or the “Company”), a leading provider of customer engagement and marketing technology services in China, today announced that it had received a notification letter (the “Compliance Notification”) from the Listing Qualifications Department of the Nasdaq Stock Market LLC (“Nasdaq”), dated December 27, 2023, notifying the Company that it has regained compliance with the minimum bid price of US$1.00 per share requirement set forth under Nasdaq Listing Rule 5550(a)(2).

As announced on December 30, 2022, Aurora Mobile received a written notification from Nasdaq indicating that for the last 32 consecutive business days, the closing bid price for the Company’s American depositary shares (the “ADSs”) was below the minimum bid price of US$1.00 per share requirement set forth in Nasdaq Listing Rule 5450(a)(1). As announced on June 28, 2023, Nasdaq approved the Company’s request to transfer the listing of its ADSs from the Nasdaq Global Market to the Nasdaq Capital Market. As a result, the Company was granted an additional period to meet the minimum bid price requirement. To regain compliance, the closing bid price of the Company’s ADSs needs to be US$1.00 per share or higher for a minimum of ten consecutive business days.

As part of its efforts to regain compliance, the Company changed the ratio of its ADSs representing Class A common shares from three (3) ADSs representing two (2) Class A common shares to three (3) ADSs representing forty (40) Class A common shares. The change became effective on December 11, 2023.

On December 27, 2023, Nasdaq confirmed in the Compliance Notification that the closing bid price of the Company’s ADSs has been at US$1.00 per share or higher for the 11 consecutive business days from December 11, 2023 through December 26, 2023. Accordingly, the Company has regained the minimum bid price requirement, and the matter is now closed.

About Aurora Mobile Limited

Founded in 2011, Aurora Mobile is a leading provider of customer engagement and marketing technology services in China. Since its inception, Aurora Mobile has focused on providing stable and efficient messaging services to enterprises and has grown to be a leading mobile messaging service provider with its first-mover advantage. With the increasing demand for customer reach and marketing growth, Aurora Mobile has developed forward-looking solutions such as Cloud Messaging and Cloud Marketing to help enterprises achieve omnichannel customer reach and interaction, as well as artificial intelligence and big data-driven marketing technology solutions to help enterprises' digital transformation.

For more information, please visit https://ir.jiguang.cn/.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of 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. Among other things, the Business Outlook and quotations from management in this announcement, as well as Aurora Mobile’s strategic and operational plans, contain forward-looking statements. Aurora Mobile may also make written or oral forward-looking statements in its reports 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. Statements that are not historical facts, including but not limited to statements about Aurora Mobile’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Aurora Mobile’s strategies; Aurora Mobile’s future business development, financial condition and results of operations; Aurora Mobile’s ability to attract and retain customers; its ability to develop and effectively market data solutions, and penetrate the existing market for developer services; its ability to transition to the new advertising-driven SAAS business model; its ability to maintain or enhance its brand; the competition with current or future competitors; its ability to continue to gain access to mobile data in the future; the laws and regulations relating to data privacy and protection; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and Aurora Mobile undertakes no duty to update such information, except as required under applicable law.

For more information, please contact:

Aurora Mobile Limited

ir@jiguang.cn


Christensen

In China

Ms. Xiaoyan Su

Phone: +86-10-5900-1548

E-mail: Xiaoyan.Su@christensencomms.com


In U.S.

Ms. Linda Bergkamp

Phone: +1-480-614-3004

Email: linda.bergkamp@christensencomms.com

 


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