CHANGSHA, China, July 15, 2019 /PRNewswire/ -- Urban Tea Inc. (the "Company," "we" or "Urban Tea") (MYT), a premier retailer of specialty teas and baked goods based in Hunan, China, announced today that the Company has received two notification letters from The NASDAQ Stock Market LLC ("Nasdaq") on July 9, 2019 and July 10, 2019, notifying the Company that it is not in compliance with the minimum Market Value of Listed Securities ("MVLS") requirement and the Minimum Bid Price ("Bid Price") requirement, respectively. On July 9, 2019, Nasdaq sent the Company a notification letter stating that the Company is not in compliance with the MVLS requirement set forth in Nasdaq Listing Rule 5550(b)(2) for continued listing on the Nasdaq Capital Market (the "MVLS Deficiency").
NEW YORK, May 31, 2019 /PRNewswire/ -- Urban Tea, Inc. (the "Company") (MYT), a premier retailer of specialty teas and baked goods in China, announced today the closing of its previously announced registered direct offering on May 29, 2019 to certain institutional investors of 2,845,000 ordinary shares and warrants to purchase up to 1,809,420 ordinary shares, at a purchase price of $1.62 for one ordinary share and a corresponding warrant, for proceeds of approximately $4.6 million. After deducting the placement agent's commission and other offering expenses payable by the Company, the net proceeds to the Company were approximately $4.1 million. The Company intends to use the net proceeds of the offering for general corporate purposes and working capital.
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CHANGSHA, China, Oct. 28, 2019 /PRNewswire/ -- Urban Tea Inc. (the "Company," "we" or "Urban Tea") (MYT), a premier retailer of specialty teas and baked goods based in Hunan, China, today announced its financial results for the fiscal year ended June 30, 2019. Ms. Kan Lu, Chief Financial Officer of Urban Tea Inc., commented, "We are pleased to announce the financial results for the fiscal year 2019.
CHANGSHA, China, Aug. 13, 2019 /PRNewswire/ -- Urban Tea, Inc. (MYT) (the "Company" or the "Buyer"), a premier retailer of specialty teas and baked goods based in Hunan, China, is pleased to announce that the Company, along with its wholly owned subsidiary Ming Yun Tang (Shanghai) Tea Co., Ltd. ("WOFE") has entered into a non-binding Letter of Intent ("LOI") with Hunan 39 PU Tea Co., Ltd. ("39 PU Tea") and equity holders of 39 PU Tea to acquire 39 PU Tea. 39 PU Tea is a high-end tea enterprise integrating tea distribution, product research and development, and tea cultural heritage projects based in Hunan, China.
CHANGSHA, China, Nov. 13, 2019 /PRNewswire/ -- Urban Tea Inc. (the "Company", "we" or "Urban Tea") (MYT), a premier retailer of specialty teas and baked goods based in Hunan, China, announced today that the Company is in the process of opening its first store in New York and is expected to open to the public in early 2020. This store will be operated and managed by the Company's subsidiary Urban Tea Management Inc., which is jointly owned by the Company and its U.S. business partner with a 51% and 49% equity ownership, respectively.
If you own shares in Urban Tea, Inc. (NASDAQ:MYT) then it's worth thinking about how it contributes to the volatility...
CHANGSHA, China, Nov. 7, 2019 /PRNewswire/ -- Urban Tea Inc. (the "Company", "we" or "Urban Tea") (MYT), a premier retailer of specialty teas and baked goods based in Hunan, China, announced today that it has completed the acquisition of 51% equity interest in Hunan 39 Pu Tea Co., Ltd. ("39 Pu Tea"), a limited liability company organized under the laws of the PRC, and has entered into a set of variable interest entity agreements with 39 Pu Tea through Mingyuntang (Shanghai) Tea Co. Ltd., the Company's wholly foreign owned subsidiary organized under the laws of PRC. Founded in April 2011 and headquartered in Hunan, China, 39 Pu Tea is engaged in product research and development, tea production, distribution, and tea cultural heritage projects.
Urban Tea, Inc. (NASDAQ:MYT) shareholders will doubtless be very grateful to see the share price up 58% in the last...
CHANGSHA, China , Nov. 11, 2019 /PRNewswire/ -- Urban Tea , Inc. (NasdaqCM: MYT) (the "Company", "we" or " Urban Tea "), a premier retailer of specialty teas and baked goods ...
CHANGSHA, China, June 18, 2019 /PRNewswire/ -- Urban Tea Inc. (the "Company", "we" or "Urban Tea") (MYT), a premier retailer of specialty teas and baked goods based in Hunan, China, announced today that the Company plans to establish a production, training and research institute center (the "Center") located at No.7, Kangpeng Road, Liuyang Economic Development Zone, Hunan 410331, China. The Center is part of the Company's effort to expand its production, training, research and product development capabilities to meet the growing demand for the Company's products and provide streamlined logistical support.