ZK International Group Co., Ltd. Granted Temporary Exception By Nasdaq Hearings Panel
Portfolio Pulse from Benzinga Newsdesk
ZK International Group Co., Ltd. (ZKIN) has been granted a temporary exception by the Nasdaq Hearings Panel to regain compliance with the Bid Price Rule. The company has until January 19, 2024, to effect a reverse stock split and demonstrate a closing bid price of $1 or more for ten consecutive trading sessions. The exception period extends until January 31, 2024. ZKIN is committed to transparency and regulatory compliance during this process and values its stakeholder relationships.
November 15, 2023 | 2:15 pm
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ZK International (ZKIN) has been granted a temporary exception by Nasdaq to regain compliance with the Bid Price Rule, with a deadline of January 19, 2024, to maintain a $1 bid price for ten consecutive sessions.
The news of the temporary exception is likely to be viewed positively by investors as it provides ZKIN with an opportunity to regain compliance and avoid delisting. The commitment to a reverse stock split if necessary could stabilize the stock price in the short term. However, the execution of these plans and maintaining the required bid price will be crucial for the company's continued listing on Nasdaq.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100