delisting | GenomeWeb

delisting

Interpace hopes to keep its stock listed on the Nasdaq as a result of the reverse split. 

As of Nov. 21 the company evidenced a closing bid price of its common stock in excess of the $1 minimum requirement for at least 10 consecutive trading days.

The company has received a number of warnings from the Nasdaq over the past year for its failure to meet the exchange's $35 million market value and $1 minimum bid price requirements.

The suspension results from the firm's failure to comply with Nasdaq listing requirements covering stockholders' equity and market capitalization.

The reverse stock split was done in order for BG Medicine to remain listed on Nasdaq, which had warned the firm in September of possible delisting action.

The company's stock failed to meet the exchange's $1 minimum bid requirement.

The Australian firm regained compliance with a listing rule requiring a minimum $2.5 million in stockholder equity.

The company borrowed $2 million pursuant to an amendment to a $12 million credit agreement. It also said that it has until June 19 to meet certain listing requirements. 

The firm's shareholders will vote next month on the proposals, which are aimed at getting Nanosphere back in compliance with Nasdaq listing requirements.

NEW YORK (GenomeWeb News) – Nasdaq has notified BG Medicine that the company has not regained compliance with a listing requirement calling for at least $50 million in market value of its listed securities for continued listing on the exchange, BG Medicine said in a regulatory document.

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