Nasdaq Listing Rule 5810(c)(3)(A)

Key provisions:

• Nasdaq requires listed companies to maintain a minimum bid price of $1.00 per share.
• If a company’s closing bid price remains below $1.00 for 30 consecutive business days, Nasdaq will notify the company that it is no longer in compliance.
• The company is generally granted an initial 180-calendar-day compliance period to regain compliance with the minimum bid price requirement.
• To regain compliance, the company must satisfy Nasdaq’s bid price standards during the compliance period.
• If the company recently completed a reverse stock split within the prior year, it generally is not eligible for a compliance period if it later falls below the minimum bid price requirement.
• In that circumstance, Nasdaq may issue a delisting determination immediately rather than providing additional time to cure the deficiency.