RISE Education Receives Nasdaq Notification Regarding Minimum Bid Price Compliance

BEIJING, April 6, 2022 /PRNewswire/ -- RISE Education Cayman Ltd ("RISE" or the "Company") (Nasdaq: REDU) today announced that it has received a letter from the Listing Qualifications Department (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that its continued non-compliance with Nasdaq Listing Rule 5450(a)(1), which requires maintenance of a minimum closing bid price of US$1.00 per share, could serve as an additional basis for the delisting of the Company's securities from Nasdaq. The Company was previously granted a 180-day grace period to regain compliance with the minimum bid price requirement on September 27, 2021, which expired on March 28, 2022. The Company plans to provide an update to both the Staff and the Nasdaq Hearings Panel (the "Panel") regarding its efforts to evidence compliance with all applicable criteria for initial listing upon its business combination with Dada Auto Inc. ("NaaS"), including the higher threshold, US$4.00 minimum closing bid price requirement, within the time period granted by the Staff.

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