Universe Pharmaceuticals : Receipt of Nasdaq Notification Regarding Compliance with Nasdaq Minimum Bid Price Requirement - Form 6-K

Receipt of Nasdaq Notification Regarding Compliance with Nasdaq Minimum Bid Price Requirement

As previously disclosed, Universe Pharmaceuticals INC, an exempted company with limited liability formed in the Cayman Islands (the "Company") received a deficiency letter from the Listing Qualifications Department (the "Staff") of the Nasdaq Stock Market LLC ("Nasdaq") on March 2, 2023, indicating that the Company was not in compliance with Nasdaq Rule 5450(a)(1) (the "Bid Price Rule"), as the closing bid price for the Company's ordinary shares had been below $1.00 per share for the preceding 30 consecutive business days. In accordance with the Nasdaq Listing Rules, the Company was provided an initial period of 180 calendar days, or until August 29, 2023, to regain compliance with the Bid Price Rule.

On August 14, 2023, the Company received a written notification from the Staff of Nasdaq, noting that the Company evidenced a closing bid price of its ordinary shares at or greater than the $1.00 per share minimum requirement for the preceding 12 consecutive business days, from July 28, 2023 through August 11, 2023, and informing the Company that it has regained compliance with the Bid Price Rule and the matter is closed.