New York, May 25, 2026, 10:03 EDT
- U.S. equity markets are closed Monday for Memorial Day and are due to reopen Tuesday.
- ORKT last traded at $1.03, just above Nasdaq’s $1 minimum bid-price line.
- The company’s latest SEC filing expanded its equity incentive plan and added restricted stock units, a form of share-based employee pay that usually vests over time.
Orangekloud Technology Inc. heads into the shortened U.S. trading week with its shares sitting barely above a key Nasdaq listing threshold, after closing the last session at $1.03 and with Wall Street shut Monday for Memorial Day.
That matters now because the Singapore-based software company has already been through one listing scare this year. A minimum bid-price rule requires a Nasdaq-listed security to keep a bid of at least $1; Orangekloud said in March it had regained compliance after previously receiving a delisting determination tied to that rule.
The stock did not do much last week. It closed at $1.02 on Monday and Tuesday, then $1.03 from Wednesday through Friday, trading in a narrow band that kept the $1 line in view but did not give holders much room.
On Friday, ORKT changed hands between $1.02 and $1.08, with about 104,500 shares traded. The broader Nasdaq Composite rose 0.2% that day, so the micro move in Orangekloud looked more company-specific than index-led.
The company’s main disclosure last week was not an earnings release or a contract win. Orangekloud filed a Form 6-K saying its board had approved an amended and restated 2025 equity incentive plan, raising the maximum Class A shares available under the plan to 875,965 from 307,051 and adding restricted stock units.
The same filing said Orangekloud, as a foreign private issuer, elected to use a Nasdaq home-country exemption from Rule 5635, which generally requires shareholder approval before some share issuances, including certain acquisition, compensation and change-of-control deals. A home-country exemption lets some foreign issuers follow local governance rules instead of specific Nasdaq requirements.
Orangekloud sells no-code software, meaning tools that let users build applications with little or no programming. Its eMOBIQ platform targets small and medium-sized businesses and corporate users, including for warehousing, sales ordering, delivery and manufacturing workflows.
Competition is heavy. In its annual report, the company named larger or better-known low-code rivals including OutSystems, Mendix and Appian, and warned that bigger software vendors can bundle competing products with other offerings.
The fundamentals remain thin. Orangekloud reported 2025 revenue of S$5.68 million, up from S$4.04 million a year earlier, while its net loss narrowed to S$4.47 million from S$8.65 million.
Management has tried to shift investor attention to a proposed reverse merger with Orbis Technology Limited and its VeVe digital IP marketplace. A reverse merger is a deal in which a private business effectively becomes public through an existing listed company; Orangekloud said in February that Orbis shareholders would own a majority of the company if the transaction went through, leaving current Orangekloud shareholders with a minority stake.
There has been slippage in that timetable. Orangekloud said on March 3 that the parties remained in talks but needed more time to finalise terms, and that it would give further updates once a definitive agreement or other material development occurred.
Chief Executive Alex Goh struck a steadier tone after the Nasdaq compliance issue was cleared in March. “We are pleased to have resolved this matter and regained full compliance,” he said at the time.
The risk is plain enough. If the stock slips back below $1, listing worries could return; if the VeVe transaction advances, current holders still face possible dilution from a structure that would leave them in the minority. Orangekloud’s own filings also warn that a Nasdaq delisting could reduce liquidity and limit market quotations for its shares.
For the week ahead, trading resumes Tuesday with no Orangekloud earnings date shown on Nasdaq’s earnings page. The first test is simpler: whether ORKT can keep a cushion above $1 while investors wait for any clearer word on the equity plan, the VeVe talks, or fresh operating news.
