UTStarcom Receives Nasdaq Notice Regarding Minimum Bid Price Requirements

HANGZHOU, China, Jan. 28, 2022 (GLOBE NEWSWIRE) -- UTStarcom (“UTStarcom” or the “Company”) (NASDAQ:UTSI), a global telecommunications infrastructure provider, today announced that it received a delinquency letter from the Nasdaq Listing Qualifications department of the Nasdaq Stock Market LLC (NASDAQ) dated January 24, 2022. The letter states that the Company is currently not in compliance with the minimum bid price requirement set forth under Nasdaq Listing Rule 5450(a)(1) (the “Rule”), because the bid price of the Company’s shares closed below US$1 per share for the 30 consecutive business days from December 9, 2021 through January 21, 2022.

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