EX-99.25
2
rtcdelistreason.txt

Delisting Determination, The Nasdaq Stock Market, LLC, August 5, 2025
Baijiayun Group Ltd.
The Nasdaq Stock Market LLC (the Exchange) has determined to remove
from listing the security of Baijiayun Group Ltd. effective at the
opening of the trading session on August 18, 2025. Based on review
of information provided by the Company, Nasdaq Staff
determined that the Company no longer qualified for listing on the
Exchange pursuant to Listing Rule 5450(a)(1).The Company was
notified of the Staff determination on March 14, 2025.
On March 19, 2025 the Company exercised its right to appeal
the Staff determination to the Listing Qualifications Hearings
Panel (Panel) pursuant to Listing Rule 5815. On April 24,
2025, the hearing was held. On May 9, 2025 the Panel reached a
decision and a Decision letter was issued on May 12, 2025.
On May 12, 2025 the Panel reached a decision
and decided to suspend the Company from the Exchange.
The Company security was suspended on May 15, 2025. The
Staff determination to delist the Company security
became final on July 11, 2025