Nasdaq gives Merge compliance nod
Merge Healthcare has received notification from the Nasdaq Stock Market that it has regained compliance with Marketplace Rule 4450(a)(5) and that Nasdaq now considers the matter closed.
Nasdaq sent Merge a warning letter on April 2, informing the company that it was not in compliance with the Minimum Bid Price Rule because shares of its common stock had closed at a per share bid price of less than $1 for 30 consecutive business days.
At that time, in accordance with the rule, Merge was provided with 180 calendar days, or until September 29, to regain compliance. Since then, the company’s common stock maintained a closing bid price at $1 or greater for at least 10 consecutive business days, according to the Milwaukee-based Merge.
Nasdaq sent Merge a warning letter on April 2, informing the company that it was not in compliance with the Minimum Bid Price Rule because shares of its common stock had closed at a per share bid price of less than $1 for 30 consecutive business days.
At that time, in accordance with the rule, Merge was provided with 180 calendar days, or until September 29, to regain compliance. Since then, the company’s common stock maintained a closing bid price at $1 or greater for at least 10 consecutive business days, according to the Milwaukee-based Merge.