TNL Mediagene, a Tokyo-based next-generation digital media and data group in Asia, today announced that on December 23, 2025, the Company has been notified by the Nasdaq Hearings Panel (the “Panel”) of The Nasdaq Stock Market LLC (“Nasdaq”) that the Company’s request for continued listing on The Nasdaq Capital Market has been granted, subject to the following:
On or before January 7, 2026, the Company must demonstrate compliance with the Listing Rule 5550(a)(2), or the $1 Bid Price Rule. It is a requirement during the exception period that the Company provide prompt notification of any significant events that occur during this time that may affect the Company’s compliance with Nasdaq requirements. This includes, but is not limited to, any event that may call into question the Company’s ability to meet the terms of the exception granted. The Panel reserves the right to reconsider the terms of this exception based on any event, condition or circumstance that exists or develops that would, in the opinion of the Panel, make continued listing of the Company’s securities on Nasdaq inadvisable or unwarranted.
The decision was made by the Panel following a hearing held on December 16, 2024, during which the Company presented its plan (including the reverse share split the Company announced on December 19) to regain compliance with $1 Bid Price Rule. In the meantime, the Company will continue to be listed and its shares will continue to be traded on Nasdaq, pending a final written decision by the Panel after January 7, 2026.
On November 13, 2025, the Company filed a request for a hearing before the Panel to present its financial and operational data and compliance plan with the applicable listing requirements. This request was due to a staff determination letter (the “Determination Letter”) on November 6, 2025 from the staff of the Listing Qualifications Department of Nasdaq notifying the Company of the staff’s determination to delist the Company’s securities from The Nasdaq Capital Market due to the Company’s failure to regain compliance with the $1 per share bid price requirement for continued listing as set forth in Listing Rule 5550(a)(2), or the $1 Bid Price Rule, following the 180 calendar day compliance period. On November 13, 2025, the Company received a letter from Nasdaq granting the appeal and scheduling the hearing by the Panel for December 16, 2025.
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