Delisting Determination, The Nasdaq Stock Market, LLC, December 27, 2023,
Borqs Technologies, Inc.
The Nasdaq Stock Market LLC (the Exchange) has determined to remove
from listing the securities of Borqs Technologies, Inc, effective at the
opening of the trading session on January 8, 2024.
Based on review of information provided by the Company, Nasdaq
Staff determined that the Company no longer qualified for listing
on the Exchange pursuant to Listing Rule 5550(a)(2). The Company was
notified of the Staff determination on April 27, 2023. On May 4, 2023,
the Company exercised its right to appeal the Staff determination to
the Listing Qualifications Hearings Panel (Panel) pursuant to Rule 5815.
On June 2, 2023, upon review of the information provided by the Company,
the Panel determined to grant the Company request to remain listed in the
Exchange subject to a series of milestones. Based on the Company failure
to meet the terms of the exception, on October 25, 2023, the Panel issued
a final decision denying the Company continued listing and notified the
Company that trading in the Company securities would be suspended on
October 27, 2023. The Company did not appeal the Panel decision to the
Nasdaq Listing and Hearing Review Council (Council) and the Council did
not call the matter for review. The Staff determination to delist the
Company became final on December 11, 2023.