Curated News
By: NewsRamp Editorial Staff
September 18, 2025
Galaxy Payroll Gets 180-Day Nasdaq Extension to Fix Stock Price
TLDR
- Galaxy Payroll Group gains a strategic 180-day extension to boost its stock price above $1, potentially preserving Nasdaq listing and investor confidence.
- Nasdaq granted Galaxy Payroll Group an additional 180 days to meet the $1 minimum bid price requirement, possibly through a reverse stock split.
- Galaxy Payroll Group's compliance efforts ensure continued payroll services stability for multinational companies, supporting global workforce management and employment.
- Galaxy Payroll Group secured an extra 180 days from Nasdaq to fix its stock price issue, highlighting corporate resilience and regulatory flexibility.
Impact - Why it Matters
This development matters because it signals potential volatility for investors in Galaxy Payroll Group and serves as a cautionary tale about the risks associated with companies facing delisting threats. For current shareholders, the extension provides temporary relief but underscores the need for the company to implement effective strategies, such as a reverse stock split, to maintain its Nasdaq listing. The situation also highlights broader market concerns about compliance and corporate governance, particularly for international firms listed on U.S. exchanges, which can affect investor confidence and stock performance across similar sectors.
Summary
Galaxy Payroll Group Limited (Nasdaq: GLXG), a leading global payroll provider based in Hong Kong, has received a crucial lifeline from Nasdaq as it struggles with compliance issues. The company announced that Nasdaq has granted it an additional 180-day compliance period, until March 16, 2026, to regain compliance with the minimum bid price requirement after its stock price remained below $1.00 per share for 30 consecutive business days. This extension follows an initial 180-day grace period that expired on September 15, 2025, and was granted because Galaxy meets all other Nasdaq Capital Market listing requirements except the bid price threshold.
According to the notification from Nasdaq, the company can cure the deficiency by potentially implementing a reverse stock split or by having its closing bid price reach $1.00 per share or more for at least 10 consecutive business days before the March 2026 deadline. CEO Mr. Wai Hong Lao expressed appreciation for the additional time, stating that it acknowledges the company's compliance with other key listing requirements and reaffirming Galaxy's commitment to enhancing shareholder value and executing its business strategy. The company specializes in delivering HR and payroll solutions to multinational companies across various industries through its operations in Hong Kong, Taiwan, Macau, and mainland China.
For more details, readers can view the original release on www.newmediawire.com or visit Galaxy Payroll Group's website at www.galaxyapac.com. The company's forward-looking statements caution that while they believe in their ability to resolve the compliance matter, there are inherent uncertainties in achieving these expectations. Contact information for further enquiry is provided through Intelligent Joy Limited's PR team at pr-team@intelligentjoy.com.
Source Statement
This curated news summary relied on content disributed by NewMediaWire. Read the original source here, Galaxy Payroll Gets 180-Day Nasdaq Extension to Fix Stock Price
