SINGAPORE, May 29, 2026 (GLOBE NEWSWIRE) -- Cuprina Holdings Cayman Limited Nasdaq: CUPR) ("Cuprina" or "the Company"), a biomedical company developing and marketing products for the chronic wounds, infertility, medical waste recycling, and cosmeceuticals sectors, today announced that it completed a reverse stock split on May 27, 2026, and requested a hearing before the Nasdaq Hearings Panel (the "Panel"), in response to a staff determination letter (the "Letter") received on May 27, 2026, from the Listing Qualifications Department (the "Staff") of the Nasdaq Stock Market LLC ("Nasdaq"). The Letter notified the Company that, due to the Company's failure to regain compliance with a minimum bid price of $1.00 per share requirement for continued listing on The Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Requirement"), Nasdaq has determined (the "Determination") that Company's securities will be scheduled for delisting from Nasdaq unless the Company requests an appeal of the Determination to a Panel.
On November 26, 2025, the Company received a notice from Nasdaq (the "Notice"), notifying the Company that based upon the closing bid price of its securities for the last 30 consecutive business days preceding the Notice, the Company was not in compliance with the Minimum Bid Requirement.
In accordance with Listing Rule 5810(c)(3)(a), the Notice provided the Company a period of 180 calendar days from the date of the Notice, or until May 26, 2026, to regain compliance with the Minimum Bid Requirement. According to the Letter, the Company had not regained compliance with the Minimum Bid Requirement as of May 26, 2026.
Unless the Company requests an appeal of the Determination by June 3, 2026 to the Panel, the Company's securities will be suspended at the opening of business on June 5, 2026, and a Form 25-NSE will be filed with the U.S. Securities and Exchange Commission (the "SEC"), which will remove the Company's securities from listing and registration on Nasdaq. A hearing request will stay the suspension of the Company's securities and the filling of Form 25-NSE pending the Panel's decision. The Company's securities will continue to trade on Nasdaq during this process. Accordingly, the Company filed a hearing request before the Panel on May 28, 2026.
The Company has proactively completed the share consolidation on May 27, 2026, which is expected to bring the Company's bid price into compliance with the Minimum Bid Requirement. The Company remains committed to maintaining its Nasdaq listing and will provide its shareholders with material updates when they are available.
About Cuprina Holdings (Cayman) Limited
We are a Singapore-based biomedical and biotechnology company dedicated to the development and commercialization of innovative products for the management of chronic wounds, as well as operating in the infertility, medical waste recycling, and health and beauty sectors. Our expertise in biomedical research allows us to identify and utilize materials derived from natural sources to develop wound care products in the form of medical devices which meet international standards. For more information, please visit https://www.cuprina.com.
FORWARD-LOOKING STATEMENTS
Certain statements contained in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the preliminary prospectus filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Any forward-looking statements contained in this press release speak only as of the date hereof, and Cuprina Holdings (Cayman) Limited specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
Cuprina Holdings (Cayman) Limited Investor Contact:
Investor Relations
c/o Blk 1090 Lower Delta Road #06-08
Singapore 169201
+65 8512 7275
Email: ir@cuprina.com.sg
Investor Relations Inquiries:
Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5th Floor
New York, New York 10036
Office: (646) 893-5835
Email: ir@skylineccg.com
