Home Listing rules UCLOUDLINK GROUP INC. regains Nasdaq compliance regarding minimum market value of publicly held stocks

UCLOUDLINK GROUP INC. regains Nasdaq compliance regarding minimum market value of publicly held stocks

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HONG KONG, Nov. 17, 2022 (GLOBE NEWSWIRE) — UCLOUDLINK GROUP INC. (“UCLOUDLINK” or the “Company”) (NASDAQ:UCL), the world’s first and largest mobile data traffic sharing marketplace, today announced that it has received a notification letter from the Qualifications Department Nasdaq Stock Market LLC (the “Nasdaq”) listing dated November 16, 2022 stating that the Company has regained compliance with the minimum market value of publicly held stock requirement set forth in Rule 5450( (b)(1)(C) Nasdaq listing rules for which the Company received a notification letter from Nasdaq on September 22, 2022 for non-compliance with this rule. This topic has been closed.

About UCLOUDLINK GROUP INC.

UCLOUDLINK is the world’s first and largest mobile data traffic sharing marketplace, pioneering the sharing economy business model for the telecommunications industry. The Company’s products and services offer unique value propositions to mobile data users, handset and smart hardware companies, mobile virtual network operators (MVNOs) and mobile network operators (MNOs). Leveraging its innovative cloud SIM technology and architecture, the company has redefined the mobile data connectivity experience by enabling users to access mobile data traffic allocation shared by network operators in its market , while offering reliable connectivity, high speeds and competitive prices.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made pursuant to the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as “will”, “expect”, “anticipate” , “future”, “intends”, “plans”, “believes”, “estimates”, “confident” and similar statements. Among other things, the financial advice and management quotes in this announcement, as well as UCLOUDLINK’s strategic and operating plans, contain forward-looking statements. UCLOUDLINK may also make written or oral forward-looking statements in its periodic reports to the United States Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials, and in oral statements made by its officers. , directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about UCLOUDLINK’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including, but not limited to, the following: UCLOUDLINK’s strategies; the future business development, financial condition and results of operations of UCLOUDLINK; UCLOUDLINK’s ability to increase its user base and usage of its mobile data connectivity services, and improve its operational efficiency; competition in the global mobile data connectivity services industry; changes in UCLOUDLINK’s income, costs or expenses; government policies and regulations relating to the global mobile data connectivity services industry, general economic and business conditions globally and in China; the impact of the COVID-19 pandemic on UCLOUDLINK’s business operations and the economy in China and elsewhere generally; and assumptions underlying or relating to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments speaks as of the date of the press release, and UCLOUDLINK undertakes no obligation to update such information except as required by applicable law.

For more information please contact:

UCLOUDLINK GROUP INC.
Jillian Zeng
Tel: +852-2180-6111
Email: [email protected]
Investor Relations:
Equity Group Inc.
Alice Zhang, Investor Relations Analyst
Tel: +1-212-836-9610
Email: [email protected]
In China:
Lucy Ma, Partner
Tel: +86 10 5661 7012
Email: [email protected]