GD Culture Group said that it has entered into an agreement with certain investors to sell over 259 million shares of its common stock at a price of $0.021 per share.
- The company expects gross proceeds of about $5.45 million from the deal, with the transaction set to close on or about June 24, 2026.
- GDC also received Nasdaq notification regarding minimum bid price deficiency.
- GDC has been given 180 days to regain compliance with Nasdaq.
Shares of GD Culture Group (GDC) slipped over 8% on Wednesday after the company announced a $5.45 million registered direct offering of its shares and received a Nasdaq notice regarding its non-compliance with minimum bid price.
GD Culture Group said that it has entered into an agreement with certain investors to sell over 259 million shares of its common stock at a price of $0.021 per share. The company expects gross proceeds of about $5.45 million, with the transaction set to close on or about June 24, 2026.
GDC Received Nasdaq’s Non-compliance Notice
The firm also stated that it received a notice from Nasdaq on June 22 regarding its non-compliance with the minimum bid price requirement.
Nasdaq’s listing rule 5550(a)(2) states that the listed securities must maintain a minimum bid price of $1.00 per share. Based on the closing bid price for the 30 consecutive business days from May 7, 2026 to June 18, 2026, GDC has not met the minimum bid price requirement, according to the statement.
The company also said that even though the notification does not impact its listing on the Nasdaq capital market currently, GDC has been given 180 days or until December 21, 2026 to regain compliance with Nasdaq’s requirements. To do so, GDC’s shares must have a closing bid price of at least $1.00 for a minimum of 10 consecutive business days.
GDC stated that its business operations have not been affected by this notice and that it could consider implementing available options including reverse stock splits to regain compliance with the minimum bid price requirement.
GDC Received Take Private Offer
In May, the New Jersey-based microcap tech firm received a non-binding offer from Wealthy Concord and East Valley Technology to take the company private.
The group offered to buy all outstanding shares at $10.75 per share in cash, a nearly 169% premium to GDC’s April 30 closing price and as of April 10, the consortium owned about 9.2% of the company’s common stock.
What Retail Thinks Of GDC
On Stocktwits, retail sentiment surrounding the stock has improved to ‘extremely bullish’ from ‘bullish’ amid ‘extremely high’ message volumes in the past 24 hours.
One bullish user on Stocktwits said that the stock could go up.
View this Stocktwits post
GDC stock has declined by more than 99% so far this year.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
