Sphere 3D Not in Compliance With Nasdaq
Regarding minimum bid requirements ($1 for 30 consecutive days)
This is a Press Release edited by StorageNewsletter.com on August 4, 2016 at 1:06 pmSphere 3D Corp. received a notice from The NASDAQ Stock Market that the company is not in compliance with NASDAQ’s Listing Rule 5450(a)(1) because the minimum bid price of the company’s common shares has closed below $1.00 per share for 30 consecutive business days.
The notification of non compliance has no immediate effect on the listing or trading of the company’s common shares on the NASDAQ Global Market.
The company has 180 days, or until January 30, 2017, to achieve compliance with the minimum bid price requirement. To regain compliance, the minimum bid price of the company’s common shares must meet or exceed $1.00 per share for a minimum of 10 consecutive business days during this 180-day grace period.
If the company does not regain compliance with the rule by January 30, 2017, the company will be eligible for an additional compliance period until July 29, 2017; provided that the company apply for and meet the initial and continued NASDAQ Capital Market listing requirements.
Subscribe to our free daily newsletter
