MoFo has extensive experience advising both PE firms and companies on privatization and other complex transactions involving U.S.-listed companies with an Asia-Pacific nexus. We regularly assist companies in evaluating their options and developing strategies in response to regulatory changes. Some of our recent representative experience includes advising:

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Proposed Changes in Penny Stock Delisting Rules: Proactive Steps Needed to Avoid Disruptions

On August 8, 2024, the Nasdaq Stock Market LLC (“Nasdaq”) submitted a proposal to amend its rules regarding penny stocks (i.e., stocks trading below a $1.00 minimum bid price) to make it easier for Nasdaq to delist them. Penny stock issuers are under increasing scrutiny, and the rule proposal would greatly facilitate Nasdaq’s ability to quickly delist such companies. Penny stock companies listed on Nasdaq, especially the China-based ones, should take proactive measures to avoid disruptions in light of the proposed rule changes.

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Coming Home – Overview of Going Private Transactions of U.S.-Listed Chinese Companies

Amid fluctuating market conditions and increased scrutiny by U.S. regulators and exchanges, including Nasdaq’s recently proposed changes in penny stock delisting rules, it is anticipated that more going private transactions for U.S.-listed Chinese companies will occur in the next few years. This article elaborates on the basics for a typical going private transaction of a U.S.-listed Chinese company and the corresponding regulatory considerations.

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