CHANGSHA, China – Urban Tea Inc. (NASDAQ: MYT), a premier retailer of specialty teas and baked goods headquartered in Hunan, China, is pleased to announce that it has regained compliance with Nasdaq’s minimum bid price requirement.
On September 11, 2020, the Company received a written notification from the Nasdaq Stock Market Listing Qualifications Staff, indicating that the Company has regained compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) based on the Company’s closing bid price being $1.00 per share or greater for 10 consecutive business days from August 27 to September 10, 2020.
About Urban Tea, Inc.
Urban Tea, Inc. is an emerging specialty tea product distributer and retailer headquartered in Changsha City, Hunan Province, China.
Through its wholly owned subsidiary, Mingyuntang (Shanghai) Tea Limited which controls Hunan Ming Yun Tang Brand Management Co., Ltd. and Hunan 39 Pu Tea Co., Ltd., the Company currently market a wide range of trendy tea drinks, light meals, and pastries targeting China’s new urban generation in Hunan province.
Their products are focused on not only their taste but also their aesthetic presentation and health benefits.
The products are currently being offered via their own stores. For more information, please visit: http://ir.h-n-myt.com/investor.