BEIJING, Sept. 7,
2022 /PRNewswire/ -- Cloopen Group Holding Limited
(NYSE: RAAS) ("Cloopen" or the "Company") today announced that,
based on a notification letter the Company received from the New
York Stock Exchange (the "NYSE") on September 1, 2022, the Company has regained
compliance with the NYSE's continued listing standard for minimum
share price.
On May 31, 2022, the NYSE notified
the Company that it was not in compliance with the NYSE's continued
listing standards because, as of May 27,
2022, the average closing price of the Company's American
depositary shares (the "ADSs") was less than US$1.00 per ADS over a consecutive 30 trading-day
period.
On September 1, 2022, the Company
received a confirmation from the NYSE that a calculation of the
Company's average ADS price for the 30-trading days ended
August 31, 2022 indicated that the
Company's ADS price was above the NYSE's minimum requirement of
US$1.00 based on a 30-trading day
average. Accordingly, the Company is no longer considered below the
US$1.00 continued listing criterion.
As a result, the Company has regained compliance within the
prescribed time, and the ADSs will continue to be traded on the
NYSE, subject to the Company's continued compliance with all
applicable continued listing standards.
About Cloopen Group Holding Limited
Cloopen Group Holding Limited is a leading multi-capability
cloud-based communications solution provider in China offering a full suite of cloud-based
communications solutions, covering communications platform as a
service (CPaaS), cloud-based contact centers (cloud-based CC), and
cloud-based unified communications and collaborations (cloud-based
UC&C). Cloopen's mission is to enhance the daily communication
experience and operational productivity for enterprises. Cloopen
aspires to drive the transformation of enterprise communications
industry by offering innovative marketing and operational tactics
and SaaS-based tools.
For more information, please
visit https://ir.yuntongxun.com.
Forward-Looking Statements
This press release contains forward-looking statements made
under the "safe harbor" provisions of Section 21E of the Securities
Exchange Act of 1934, as amended, and the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as "will," "expects,"
"anticipates," "future," "intends," "plans," "believes,"
"estimates," "confident" and similar statements. Cloopen may also
make written or oral forward-looking statements in its reports
filed with or furnished to the U.S. Securities and Exchange
Commission (the "SEC"), in its annual report to shareholders, in
press releases and other written materials and in oral statements
made by its officers, directors or employees to third parties. Any
statements that are not historical facts, including statements
about Cloopen's beliefs and expectations as well as its financial
outlook, are forward-looking statements. These forward-looking
statements are based on Cloopen's current expectations and involve
factors, risks and uncertainties that could cause actual results to
differ materially from those in the forward-looking statements.
Further information regarding these and other risks, uncertainties
or factors is included in Cloopen's filings with the SEC. All
information provided in this press release is current as of the
date of the press release, and Cloopen does not undertake any
obligation to update such information, except as required under
applicable law. All forward-looking statements are qualified in
their entirety by this cautionary statement, and you are cautioned
not to place undue reliance on these forward-looking
statements.
For investor and media inquiries, please contact:
Cloopen Group Holding Limited
Investor Relations
Email: ir@yuntongxun.com
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SOURCE Cloopen Group Holding Limited