Greenbrook TMS Receives Nasdaq Delisting Notice And Intends To Appeal
Portfolio Pulse from Benzinga Newsdesk
Greenbrook TMS Inc. has received a notice from Nasdaq regarding its non-compliance with the minimum bid price requirement. The company's stock, GBNH, has not met the $1 minimum bid price for the last 30 consecutive business days. Greenbrook TMS intends to appeal the delisting notice and will request a hearing with the Nasdaq Hearings Panel. During the appeal process, GBNH will continue to trade on the Nasdaq. The company has a 180-day grace period to regain compliance with the minimum bid price requirement.
November 17, 2023 | 9:36 pm
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Greenbrook TMS Inc. is facing potential delisting from Nasdaq due to non-compliance with the minimum bid price rule. The company plans to appeal the decision, which allows it to remain listed during the appeal process. Investors may be concerned about the company's ability to maintain its listing status.
The notice of potential delisting usually has a negative impact on investor confidence and the stock price, as it reflects concerns about the company's market value and liquidity. The intention to appeal provides some temporary relief, but the uncertainty about the outcome may still weigh on the stock in the short term.
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