Gridsum Announces NASDAQ Stay Request Granted

Gridsum Holding (NASDAQ:GSUM) announced that the NASDAQ Headings panel has granted the company’s request for a further stay of any suspension by NASDAQ until the panel’s determination regarding the company’s listing status.

As quoted in the press release:

On November 6, 2018, the Company requested a hearing before the Panel to appeal the delisting determination from the staff of the Listing Qualifications Department of Nasdaq (the “Staff”), which automatically stayed the delisting of the Company’s securities for 15 calendar days or until November 21, 2018. At the time of the request, the Company also requested an extension of the stay beyond the 15-day period. On November 21, 2018, the Panel notified the Company that it had granted the request to extend the stay, allowing for the continued trading of the Company’s American depositary shares on Nasdaq until a final determination regarding the Company’s listing status is issued after its hearing. The Company’s hearing before the Panel is scheduled for December 13, 2018.

The Company continues to make significant progress in working with its independent auditors to finalize its audited financial statements as of and for the years ended December 31, 2015, 2016 and 2017, and to file its annual report on form 20-F for the year ended December 31, 2017.

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