Presidio Granted Second 180-Day Period by Nasdaq To Regain Compliance With Minimum Bid Price Rule
Portfolio Pulse from Benzinga Newsdesk
Presidio Property Trust, Inc. (SQFT) has been granted an additional 180 days by Nasdaq to meet the minimum bid price requirement of $1.00 for continued listing. The company must maintain a closing bid price of at least $1.00 for ten consecutive trading days before June 3, 2024, to regain compliance. Failure to do so may lead to delisting, but Presidio can appeal to a Nasdaq Hearings Panel. Presidio will monitor its stock price and explore options to address the deficiency.
December 06, 2023 | 1:48 pm
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Presidio Property Trust, Inc. has received an extension until June 3, 2024, to meet Nasdaq's minimum bid price rule. The company's stock must reach $1.00 for ten consecutive days to avoid delisting.
The extension provides Presidio with more time to regain compliance, which may positively influence investor sentiment in the short term. However, the risk of delisting remains if the stock price does not improve, creating uncertainty. The score is neutral because while the extension is positive, the underlying issue of non-compliance persists.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100