The share price of Triterras, Inc. (TRIT) closed the regular trading session at $1.64 with a decline of 9.89%. TRIT continued to lose in the after-hours, following a bearish trend. The stock price lost 41.45% in the after-hours to $0.96. The dip in the share price came after the Nasdaq Hearing Panel denied the fintech firm’s appeal to the Nasdaq Stock Market staff’s decision to delist the company’s stock.
Triterras Inc (TRIT) is a leading global fintech company that mainly focuses on trade and trade finance, headquartered in Singapore, that connects and enables commodity traders to trade and source capital from lenders directly online.
Triterras Inc. (TRIT) Press Release
On December 10, 2021, the staff of the NASDAQ stock market made a delisting determination of the company for its failure to file the annual report on Form 20-F for the fiscal year that ended on February 28, 2021. The company made an appeal to the NASDAQ hearing panel on December 16, 2021. The staff of the NASDAQ Stock Market sent a notice to the company that the panel has denied the company’s appeal and has suspended the trading in the securities of Triterras Inc. The suspension of trading in the company’s securities will be effective on February 3, 2022.
What next?
Triterras, Inc. (TRIT) will appeal again before the panel within the applicable 15-day appeal period. The Panel’s decision was based on the non-compliance of the company with the NASDAQ’s filing requirements. The Company is presently inspecting options for continued trading of its securities in the United States. In any case, there can be no affirmation that a market for the Company’s securities will evolve. TRIT is proceeding to work with its autonomous auditors to finish the review of its merged financial results.
However, there are no remarks given by the Chief Executive Officer (CEO) of the company.
