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stock delisting

The notice was issued due to the company's extended period of non-compliance with the minimum $2.5 million stockholder's equity requirement for continued listing.

In April the firm received notice that it wasn't in compliance because its common stock didn't maintain a minimum bid price of $1.00 for 30 consecutive business days.

The Lexington, Massachusetts-based company also terminated a purchase agreement and raised the amount in it may raise in a public offering of its common stock to $95.

The company will not be allowed to submit another plan for meeting the Nasdaq's listing requirements.

The firm has a 180-day grace period in which to regain compliance, by maintaining a $1.00 minimum closing bid price for at least 10 consecutive business days.

Nasdaq told the company that as of June 30 its shareholder equity does not meet the minimum $2.5 million required for its shares to remain listed on the exchange.

Nasdaq told the company that its shares have failed to meet a minimum $1 per share closing price for 30 consecutive days and may face delisting action.

The cancer diagnostics developer said it was undertaking the reverse stock split in order to meet the Nasdaq's $1 minimum bid price requirement.

With its stock price languishing below $1, NantHealth has 180 days to come into compliance with Nasdaq listing rules.

The company had been warned in March that it failed to meet a listing requirement calling for a minimum $1 per share closing price of its common stock.

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