TON Strategy Receives Reprimand from Nasdaq for Listing Rule Violations

TON Strategy has been formally reprimanded by the Nasdaq Stock Market’s Listing Qualifications Department on October 28th. The reprimand letter stems from violations of specific Nasdaq Listing Rules, namely 5635(a) and 5635(b), which address shareholder approval requirements. While the company failed to meet these rules during its initial listing process, it is believed that the infractions were not intentional attempts to evade compliance. As a result, the department opted for a reprimand instead of delisting TON Strategy’s securities. The company’s stock will continue to be listed on Nasdaq, signifying that these issues have been resolved.