Origin Agritech In Non-Compliance With Nasdaq Market Value Of Listed Securities; Company Has Until January 8, 2024 To Achieve Compliance With The Market Value Requirement For Continued Listing
Portfolio Pulse from Benzinga Newsdesk
Origin Agritech Ltd. has been notified by NASDAQ that it is not in compliance with the minimum market value of listed securities requirements, which stipulate a market value of $35 million or more. The company has until January 8, 2024, to achieve compliance. If it fails to do so, its securities may be delisted. However, if the market value of the listed securities equals $35 million or more for ten consecutive business days before the deadline, the company will regain compliance.
October 23, 2023 | 3:32 pm
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Origin Agritech Ltd. is at risk of being delisted from NASDAQ if it does not meet the minimum market value requirement of $35 million by January 8, 2024. This could negatively impact the company's stock price.
The news of potential delisting from NASDAQ due to non-compliance with the minimum market value requirement could negatively impact investor sentiment and lead to a decrease in the stock price of Origin Agritech Ltd. in the short term.
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