Hudson Capital Receives Notice of Non-compliance with NASDAQ’s Listing Rule

Hudson Capital signed a definitive Merger Agreement with FreightHub, Inc. (“Fr8Hub”), a North American transportation logistics technology platform company focused on US-Mexico cross-border shipping

Hudson Capital Inc. (NASDAQ: HUSN) (“Hudson Capital” or the “Company”) announced that it received written notification on May 13, 2021, from The Nasdaq Stock Market LLC that it no longer meets Listing Rule 5550(b)(1).

Listing Rule 5550(b)(1) requires Hudson Capital to maintain a minimum $2,500,000 in stockholders’ equity for continued listing. The Company reported in its last annual report Form 20-F for the period ended December 31, 2021 that its stockholders’ equity was $631,145. Under the Nasdaq Rules, the Company has 45 calendar days (no later than June 28, 2021) to submit a plan to regain compliance. If its plan is accepted, the Company will be granted an extension of up to 180 calendar days from the date of this letter to evidence compliance.

As previously announced, Hudson Capital signed a definitive Merger Agreement with FreightHub, Inc. (“Fr8Hub”), a North American transportation logistics technology platform company focused on US-Mexico cross-border shipping. A Registration Statement on Form S-4 containing a proxy statement/prospectus that will be used to solicit shareholder approval of the transaction and other proposals was previously filed, and has recently been amended and filed on May [18], 2021, with the SEC. The Company believes that the merger with Fr8Hub, if approved, will enable the Company to regain compliance with Nasdaq Listing Rule 5550(b)(1). The Company intends to include the details of the proposed transaction with Fr8Hub as part of its plan to regain compliance.

About FreightHub, Inc.
FreightHub, Inc. (Fr8Hub) makes shipping simple, transparent, and efficient. A transportation logistics platform company, Fr8Hub focuses on truckload freight for domestic and cross-border markets in Mexico, the US and Canada. As an innovative digital freight marketplace, broker, transportation management system (TMS) and public API, Fr8Hub uses its proprietary technology platform to connect carriers and shippers that significantly improves matching and operation efficiency via innovative technologies such as live pricing and real-time tracking.

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