Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing · Other Events
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. As previously reported on Form 6-K, on December 11, 2025, OFA Group (the “Company”) received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that the closing bid price per share for its ordinary shares, which were reclas…
Filed Jun 12, 2026Accepted Jun 12, 2026, 4:30 PM EDTCIK 2036307Accession 0001493152-26-028456
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Item 3.01Item 3.01 - Notice of Delisting
Item
3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
As
previously reported on Form 6-K, on December 11, 2025, OFA Group (the “Company”) received a letter from the Listing Qualifications
Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that the closing bid price per share for its ordinary
shares, which were reclassified as Class A ordinary shares, $0.001 par value, on November 24, 2025 (“Ordinary Shares”) was
below $1.00 for a period of 30 consecutive business days and that the Company did not meet the minimum bid price requirement set forth
in Nasdaq Listing Rule 5550(a)(2). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company had 180 calendar days, or until
June 9, 2026 (the “Initial Compliance Date”), to regain compliance with the minimum bid price requirement by having shares
of the Company’s Ordinary Shares maintain a minimum closing bid price of at least $1.00 per share for a minimum of 10 consecutive
business days before the Initial Compliance Date.
On
June 9, 2026, the Company received a letter from the Staff (the “Letter”) notifying the Company that the Company is eligible
for an additional 180-day period (the “Second Compliance Period”), or until December 7, 2026 (the “Compliance Date”),
to regain compliance, based on the Staff’s determination of the Company meeting the continued listing requirement for market value
of publicly held shares and all other initial listing standards for Nasdaq, with the exception of the minimum bid price requirement,
and the Company’s written notice to Nasdaq of its intention to cure the deficiency during the Second Compliance Period, by effecting
a reverse stock split, if necessary. The Letter has no immediate impact on the listing of the Company’s Ordinary Shares on Nasdaq.
If at any time during the Second Compliance Period the closing bid price of the Company’s Ordinary Shares is at least $1.00 per
share for a minimum of 10 consecutive business days (which may be extended to be a period of up to 20 consecutive business days in the
discretion of the Staff), Nasdaq will provide the Company with written confirmation of compliance.
If
the Company does not regain compliance by the Compliance Date, the Staff will provide written notification that the Company’s Ordinary
Shares is subject to delisting. At that time, the Company may appeal the delisting determination to a hearings panel pursuant to the
procedures set forth in the applicable Nasdaq listing rules. However, there can be no assurance that, if the Company receives a delisting
notice and appeals the delisting determination by Nasdaq to the panel, such appeal would be successful.
The
Company intends to actively monitor the closing bid price of its Ordinary Shares between now and the Compliance Date and, as appropriate,
will evaluate available options to resolve the deficiency and regain compliance with the minimum bid price requirement.
Item 8.01Item 8.01 - Other Events
Item
8.01 Other Events.
On
June 12, 2026, the Company issued a press release announcing Letter. A copy of the press release is furnished as Exhibit 99.1
to this Current Report on Form 8-K and is incorporated herein by reference into this Item 7.01.
The
information furnished under this Item 8.01 and in the accompanying Exhibit 99.1 shall not be deemed “filed” for purposes
of Section 18 of the Securities Exchange Act of 1934, as amended (the “ Exchange Act ”), or incorporated by reference
in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference
in any such filing.
Forward-Looking
Statements
This
Current Report on Form 8-K contains “forward-looking statements” within the meaning of the Private Securities Litigation
Reform Act of 1995, as amended, and other securities law. Forward-looking statements are statements that are not historical facts. Words
and phrases such as “anticipated,” “forward,” “will,” “would,” “could,” “may,”
“intend,” “remain,” “potential,” “prepare,” “expected,” “believe,”
“plan,” “seek,” “continue,” “estimate,” “and similar expressions are intended to
identify forward-looking statements. These statements include, but are not limited to: the Company’s ability to cure any deficiencies
in compliance with the minimum bid price requirement, or other Nasdaq listing rules, or maintain compliance with other Nasdaq listing
rules; the Company’s intent to implement a reverse stock split to regain compliance with the minimum bid price requirement; and
whether any such reverse stock split will actually allow the Company to meet the minimum bid price requirement. These forward-looking
statements are subject to a number of risks; and those risks and uncertainties identified in the “Risk Factors” sections
of the Company’s filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements. All
forward-looking statements contained in this Current Report on Form 8-K speak only as of the date on which they were made. Except to
the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances
that exist after the date on which they were made.
Filed exhibits (1)
EX-99.1 (by filename) ex99-1.htm
EX-99.1
2
ex99-1.htm
EX-99.1
Exhibit
99.1
OFA
Group Receives Additional 180-Day Nasdaq Compliance Period; Nasdaq Confirms Company Remains Compliant with All Continued Listing Standards
Other Than the Minimum Bid Price Requirement
Torrance,
California - June 12, 2026 - OFA Group (Nasdaq: OFAL) (“OFA” or the “Company”) today announced
that it has received notice from the Nasdaq Listing Qualifications Department granting the Company an additional 180-calendar-day period,
through December 7, 2026, to regain compliance with the minimum $1.00 bid price per share requirement under Nasdaq Listing Rule 5550(a)(2).
Nasdaq’s
determination to grant the second compliance period was based on the Company meeting the continued listing requirement for market value
of publicly held shares and all other applicable requirements for initial listing on the Nasdaq Capital Market, with the bid price requirement
being the sole exception, and the Company’s written notice to Nasdaq of its intention to cure the deficiency during the second
compliance period by effecting a reverse stock split, if necessary.
As
previously disclosed, on December 11, 2025, the Company was notified that the closing bid pri…