Canaan disclosed it received a Nasdaq deficiency notice on Jan. 14, 2026, after its American depositary shares traded below $1.00 for 30 consecutive business days.
Regulatory Compliance and DisclosureWhile the notice signals a breach of Nasdaq Listing Rule 5550(a)(2), Canaan emphasized that its disclosure and subsequent response are fully aligned with the exchange’s governance protocols. Specifically, this public announcement was made to satisfy Nasdaq Listing Rule 5810(b), which mandates that listed companies promptly disclose any receipt of a deficiency notification to the investing public.
To meet the listing standard, the company’s ADSs must maintain a closing bid price of at least US$1.00 for a minimum of 10 consecutive business days before the July deadline.
However, should the company require more time, Nasdaq rules provide a structured pathway for an additional 180-calendar-day extension. To qualify for this second window, Canaan would be required to submit a formal transfer application along with a US$5,000 application fee.
In addition to meeting all other initial listing standards for the Nasdaq Capital Market, Canaan must provide a written intent to cure the deficiency, which may include implementing a reverse stock split if necessary.
FAQ Why did Canaan receive a Nasdaq deficiency notice? Canaan’s ADSs traded below the US$1.00 minimum bid price for 30 consecutive business days. Does the notice affect Canaan’s Nasdaq listing now? No, Canaan’s ADSs continue trading on the Nasdaq Global Market under the symbol “CAN.” How long does Canaan have to regain compliance? The company has until July 13, 2026, to maintain a US$1.00 bid price for 10 consecutive days. What options exist if compliance isn’t met by July? Nasdaq rules allow a 180‑day extension with a transfer application, fee, and possible reverse stock split.
