Freight Technologies (NASDAQ: FRGT), a technology company developing solutions to optimize and automate the supply chain process, has regained compliance with NASDAQ listing requirement. The company received written notification in October 2022 that it no longer complied with NASDAQ’s minimum bid price requirement for continued listing on the Nasdaq Capital Market; the reason for the notification was the company’s closing bid price ordinary shares had fallen below $1 per share for 30 consecutive business days. According to NASDAQ guidelines, Freight Technologies had 180 calendar days to comply with the regulations, which it did by implementing a 10:1 reverse split of its ordinary shares, which began trading on a split adjusted basis last month. On April 11, 2023, the company received notification from the NASDAQ Stock Market that the closing bid price of FRGT ordinary shares had been at $1 per share or greater for the last 11 consecutive business days. Freight Technologies offers Fr8App, a platform for B2B cross-border shipping in the USMCA region; Fr8now, a platform for LTL shipping services in Mexico; and Fr8Fleet for dedicated capacity to enterprise companies in Mexico.
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About Freight Technologies Inc.
Freight Technologies is a technology company developing solutions to optimize and automate the supply chain process. Its wholly owned subsidiary Freight App Inc. (“Fr8App”) is a business-to-business, cross-border shipping marketplace in the USMCA region powered by artificial intelligence (“AI”) and machine learning. Focused on making shipping transparent and efficient, Fr8App provides carriers with increased growth opportunities and shippers with flexibility, visibility and simplicity for the once-complex process of international over-the-road (“OTR”) shipping. Fr8App uses its proprietary technology platform to connect carriers and shippers, and significantly improve matching and operation efficiency via innovative technologies such as live pricing and real-time tracking, digital freight marketplace, broker, transportation management, fleet management and committed capacity solutions. For more information about the company, please visit www.FR8Technologies.com.
NOTE TO INVESTORS: The latest news and updates relating to FRGT are available in the company’s newsroom at https://ibn.fm/FRGT
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