The Chinese coffee company and coffeehouse chain, Luckin Coffee Inc. announced that the company has received two written notices from the Listing Qualifications Staff of The Nasdaq Stock Market LLC, indicating the grounds of its decision to delist the company’s securities from Nasdaq.
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On 24th June, 2020, the company notified the Listing Qualifications Staff of the company’s decision to withdraw its request for a hearing and not to seek to reverse or stay the Listing Qualification Staff’s determination of delisting the company from the Nasdaq Global Select Market.
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As a result, the Office of General Counsel of Nasdaq has notified the company that the company’s shares will be suspended at the open of business on 29th June, 2020, and Nasdaq will file a Form 25 Notification of Delisting when all appeal periods have expired.