Wearable Devices Announces Receipt of Nasdaq Notification of Minimum Stockholders’ Equity Non-Compliance

Yokneam Illit, Israel, Jan. 17, 2025 (GLOBE NEWSWIRE) -- Wearable Devices Ltd. (the “Company” or “Wearable Devices”) (Nasdaq: WLDS, WLDSW), an award-winning pioneer in artificial intelligence (“AI”)-based wearable gesture control technology, today announced that it has received a written notification (the "Notification Letter") from the Listing Qualifications staff of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it is no longer in compliance with the minimum stockholders' equity requirement for continued listing on the Nasdaq Capital Market, listing Rule 5550(b)(1), due to its failure to maintain a minimum of $2,500,000 in stockholders' equity. In the Company's Report of Foreign Private Issuer on Form 6-K, dated September 23, 2024, the Company reported stockholders' equity of approximately $1,695,000 as of June 30, 2024.