Gridsum receives extension by Nasdaq to regain compliance
Gridsum reported that it has received a letter from the listing qualifications department of The Nasdaq Stock Market, dated August 21. The letter notified the company that the Nasdaq staff has determined to grant the company additional time to regain compliance with Nasdaq's listing requirements, provided the company files its annual report on Form 20-F for the year ended December 31, 2017 by October 29 and provides the Nasdaq staff with an update on the audit committee's internal investigation on or before September 28. In the event the company does not satisfy such terms, the Nasdaq staff will provide written notification that the company's securities will be delisted, and the company may appeal that determination to a Nasdaq Hearings Panel. The company expects to satisfy the Nasdaq requirements, including by filing its 2017 annual report on Form 20-F by October 29.