UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16

OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of February 2025

 

Commission File Number 001-41831

 

Globavend Holdings Limited

(Registrant’s Name)

 

Office 1401, Level 14, 197 St Georges Tce,

Perth, WA 6000,

Australia

(Address of principal executive office)

 

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F ☒ Form 40-F ☐

 

 

 

 

 

 

Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

 

As previously disclosed, on August 16, 2024, Globavend Holdings Limited (“GVH” and the “Company”) received a deficiency notice (the “Notice”) from the Listing Qualifications Department (the “Staff”) of the Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the period from July 5, 2024 to August 15, 2024, the closing bid price for the Company’s ordinary shares (the “Ordinary Shares”) had been below the minimum of $1.00 per Ordinary Share required for continued listing on The Nasdaq Capital Market (the “Minimum Bid Price Rule”). Nasdaq has provided the Company with 180 calendar days, or until February 12, 2025, to regain compliance with the Minimum Bid Price Rule.

 

On February 13, 2025, the Company received a letter from Nasdaq, indicating that the Company is granted an additional 180 calendar days, or until August 11, 2025, to regain compliance with the Minimum Bid Price Rule or be subject to delisting.

 

If the Company cannot regain compliance of the Minimum Bid Price Rule by August 11, 2025, Nasdaq will issue a delisting determination, which the Company can appeal to the Nasdaq Listing Qualifications Hearings Panel (the “Hearings Panel”). The Company may apply to the Hearings Panel for an additional period up to another 180 days from the date of the delisting determination to regain compliance. Nasdaq, however, has recently proposed to amend the Listing Rules to eliminate the stay in suspension of trading during the appeal process. If adopted, the Company will have only a maximum of 360 days to regain compliance with the Minimum Bid Price Rule.

 

The Company intends to actively monitor the closing bid price for its Ordinary Shares and will consider available options to resolve the deficiency and regain compliance with the Minimum Bid Price Rule. However, there can be no assurance that the Company will be able to regain compliance with the Minimum Bid Price Rule.

 

EXHIBIT INDEX

 

Exhibit No.   Description
99.1   Press Release, dated February 18, 2025.

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  GLOBAVEND HOLDINGS LIMITED
     
  By: /s/ Wai Yiu Yau
  Name: Wai Yiu Yau
  Title: Chairman of the Board and Chief Executive Officer

 

Date: February 18, 2025

 

 

 

 

 

 

Exhibit 99.1

 

A logo with yellow dots Description automatically generated

 

Globavend (Nasdaq: GVH) Granted Second Grace Period by Nasdaq for Minimum Bid Price Compliance

 

PERTH, AUSTRALIA, February 18, 2025 — Globavend Holdings Limited (Nasdaq: GVH) (the “Company” or “Globavend”), an emerging e-commerce logistics provider, today announced that it received a letter from the Nasdaq Stock Market LLC (“Nasdaq”) on February 13, 2025, indicating that the Company is granted an additional 180 calendar days, or until August 11, 2025, to regain compliance of the $1.00 minimum bid price requirement for continued listing of the Company’s ordinary shares (the “Ordinary Shares”) on the Nasdaq Capital Market, as set forth in Nasdaq Listing Rules (the “Minimum Bid Price Requirement”).

 

If the Company cannot regain compliance by August 11, 2025, Nasdaq will issue a delisting determination. At that time, the Company may appeal such determination to a hearings panel of Nasdaq.

 

The Company intends to monitor the closing bid price of its Ordinary Shares and may, if appropriate, consider implementing available options to regain compliance with the Minimum Bid Price Requirement, including a reverse stock split (i.e., a share consolidation).

 

About Globavend Holdings Limited

 

Globavend Holdings Limited, an emerging e-commerce logistics provider, offers end-to-end logistics solutions in Hong Kong, Australia, and New Zealand. The Company primarily serves enterprise customers, including e-commerce merchants and operators of e-commerce platforms, facilitating business-to-consumer (B2C) transactions. As an e-commerce logistics provider, Globavend delivers integrated cross-border logistics services from Hong Kong to Australia and New Zealand. It provides customers with a comprehensive solution, encompassing pre-carriage parcel drop-off, parcel consolidation, air-freight forwarding, customs clearance, on-carriage parcel transportation, and final delivery.

 

Forward-Looking Statements

 

This press release may contain forward-looking statements that involve risks and uncertainties. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from the results predicted include, among others, those risks and uncertainties included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 20-F for the year ended September 30, 2024, which is on file with the SEC and are available on our investor relations website at https://globavend.com/ and on the SEC website at www.sec.gov., as well as the subsequent Current Reports on Form 6-K or other filings with the SEC. Readers are cautioned not to place undue reliance on such statements which speak only as of the date they are made. We undertake no duty to update this information unless required by law.

 

For investor and media inquiries, please contact:

 

Company Info:

Globavend Holdings Limited

Wai Yiu Yau, Chairman and CEO

project@globavend.com 61 8 6141 3263