Galaxy Payroll Group Granted 180-Day Nasdaq Extension to Regain Compliance with Minimum Bid Price Requirement

Galaxy Payroll Group Limited has secured an additional 180-day compliance period from Nasdaq to meet the minimum bid price requirement, pushing the new deadline to March 16, 2026. The extension follows a notice received on March 17, 2025, which highlighted that the company's closing bid price had remained below the $1.00 threshold for 30 consecutive business days, breaching Nasdaq Listing Rule 5550(a)(2).

Nasdaq's approval of the extension is contingent on Galaxy Payroll Group satisfying all other continued listing standards, such as the market value of publicly held shares and initial listing criteria for the Nasdaq Capital Market, aside from the bid price issue. The company has informed Nasdaq of its potential plan to execute a reverse stock split during this second compliance window to rectify the deficiency.

Should Galaxy's ordinary shares achieve a closing bid price of $1.00 or higher for a minimum of 10 consecutive business days prior to the March 2026 cutoff, Nasdaq will issue written confirmation of compliance and conclude the matter. As a prominent payroll outsourcing service provider, Galaxy specializes in HR and payroll solutions for multinational corporations across diverse sectors.

CEO Mr. Wai Hong Lao expressed gratitude for the extended timeframe, emphasizing the company's dedication to boosting shareholder value and advancing its business strategy. This development is significant for HR industry vendors, as it underscores the financial stability and regulatory adherence of key service providers, potentially influencing partnership decisions and market confidence in payroll outsourcing firms.