INVO Bioscience Regains Compliance With Nasdaq Minimum Stockholders' Equity Requirement
Portfolio Pulse from Benzinga Newsdesk
INVO Bioscience, Inc. (NASDAQ:INVO) has regained compliance with Nasdaq's minimum stockholders' equity requirement after previously failing to meet the standard. This was achieved through a share exchange agreement with Cytovia Therapeutics Holdings, Inc., which acquired 1,200,000 shares of INVO's Series B Preferred Stock in exchange for shares of NAYA Biosciences Inc. INVO's improved financial position, including a significant reduction in net loss and reduced operating costs, contributed to meeting Nasdaq's listing criteria. Additionally, INVO is in the process of merging with NAYA Biosciences in an all-stock transaction, pending certain conditions.
November 28, 2023 | 2:32 pm
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INVO Bioscience has regained compliance with Nasdaq's minimum stockholders' equity requirement, which is a positive development for the company's continued listing and may instill investor confidence.
Regaining compliance with Nasdaq's listing requirements is a critical step for INVO, as it avoids potential delisting. The share exchange with Cytovia and the pending merger with NAYA Biosciences are likely to be viewed positively by investors, potentially leading to a short-term increase in stock price.
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IMPORTANCE 90
RELEVANCE 100