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Foxx Development Regains Compliance with Nasdaq Minimum Market Value of Listed Securities Requirement
Irvine, CA , May 04, 2026 (GLOBE NEWSWIRE) -- Foxx Development Holdings Inc. ("Foxx Development" or the "Company") (Nasdaq: FOXX), a leading provider of consumer electronics and integrated Internet-of-Things (IoT) solutions for retail and institutional clients, today announced that it has received written notification from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") confirming that the Company has regained compliance with Nasdaq Listing Rule 5550(b)(2), and that the related listing matter is now closed.
On November 5, 2025, Nasdaq notified the Company that it had not maintained a minimum market value of listed securities ("MVLS") of $35,000,000 over the previous 30 consecutive business days, as required for continued listing on The Nasdaq Capital Market under Listing Rule 5550(b)(2). Nasdaq has since advised the Company that, for the 15 consecutive business days from March 31, 2026, through April 21, 2026, the Company's MVLS was $35,000,000 or greater, and that the Company has accordingly regained compliance with the rule.
The Company's common stock and public warrants will continue to trade on The Nasdaq Capital Market under the symbols "FOXX" and "FOXXW," respectively.
About Foxx Development Holdings Inc.
Foxx Development is a consumer electronics and integrated Internet-of-Things (IoT) solution company catering to both retail and institutional clients. With robust research and development capabilities and a strategic commitment to cultivating long-term partnerships with mobile network operators, distributors and suppliers around the world, it currently sells a diverse range of products including mobile phones, tablets and other consumer electronics devices throughout the United States, and is in the process of developing and distributing end-to-end communication terminals and IoT solutions. For more information, please visit http://foxxusa.com and http://ir.foxxusa.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the U.S. Securities Exchange Act of 1934, as amended (“Exchange Act”). Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “believe,” “intend,” “plan,” “projection,” “outlook” or words of similar meaning. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties, and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements.
Investor Relations Contact:
International Elite Capital
Annabelle Zhang
Telephone: +1 (646) 866-7928
Email: foxx@iecapitalusa.com
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