KUALA LUMPUR, Malaysia, Feb. 24, 2026 /PRNewswire/ -- Agroz Inc. (NASDAQ: AGRZ) ("Agroz" or the "Company"), an innovative, fully vertically integrated agricultural technology company designing, building, managing, and operating indoor Controlled Environment Agriculture vertical farms, today announced that it received a deficiency letter ("Deficiency Letter") from the Listing Qualifications Department (the "Staff") of The Nasdaq Capital Market ("Nasdaq") notifying the Company that, for the preceding 30 consecutive business days, the closing bid price for the Company's Ordinary Shares, par value $0.0001 per share (the "Ordinary Shares"), was below the minimum $1.00 per share requirement for continued listing on Nasdaq pursuant to Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Requirement").
The Company's receipt of this Deficiency Letter has no immediate effect on the Company's Nasdaq listing. In accordance with Nasdaq rules, the Company has been provided an initial period of 180 calendar days, or until August 17, 2026 (the "Compliance Date", and such 180 day period, the "Compliance Period"), to regain compliance with the Bid Price Requirement. If at any time during the Compliance Period the closing bid price of the Ordinary Shares is at least $1 for a minimum of ten consecutive business days, Nasdaq will provide the Company with written confirmation of compliance and thismatter will be closed.
If the Company does not regain compliance during the Compliance Period, the Company may be eligible for an extension of an additional 180 calendar days, provided that the Company meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for Nasdaq except for the Bid Price Requirement, and provide a written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. If the Company chooses to implement a reverse stock split, it must complete such split no later than ten (10) business days prior to the Compliance Date. If it appears to the Staff that the Company will not be able to cure its deficiency, or if the Company is otherwise not eligible, Nasdaq will notify the Company of its determination to delist the Company's Ordinary Shares, at which point the Company will have an opportunity to appeal the delisting determination to a Hearings Panel.
The Company intends to monitor the closing bid price of the Common Shares and may, if appropriate, consider available options to regain compliance with the Bid Price Requirement.
About Agroz Inc.
Agroz Inc. is an innovative, fully vertically integrated agricultural technology company designing, building, managing, and operating indoor and outdoor Controlled Environment Agriculture ("CEA") vertical farms. Agroz also operates CEA vertical farms in local communities to grow and deliver clean, pesticide free, fresh and nutritious rich vegetables directly to consumers and businesses, and to educate the public on how its vegetables are grown. Agroz believes its competitive advantage stems from its proprietary Agroz OS system, a vertical farm operating system comprised of (i) digitally automated hardware systems enabling management of vertical farm conditions, and (ii) certain software solutions enabling email and communication systems for vertical farm organization.
CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking statements." You can identify forward-looking statements as those that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," or "hopes" or the negative of these or similar terms. The reader is cautioned not to rely on these forward-looking statements. Actual results could vary materially from the expectations and projections of Agroz. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including, without limitation, statements regarding the closing of the Offering and the use of proceeds from the sale of our ordinary shares in the Offering. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking statements discussed in this press release and other statements made from time to time by us or our representatives may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us more fully described in Agroz's filings with the SEC. We do not undertake to update any forward-looking statement as a result of new information or future events or developments, except as required by U.S. federal securities laws.
SOURCE Agroz Inc
