NewGenIvf Receives Two Letters From Nasdaq
Portfolio Pulse from Benzinga Newsdesk
NewGenIvf has received two letters from Nasdaq. The first letter is a notification of non-compliance with Nasdaq's minimum bid price requirement, as the company's stock has closed below $1.00 per share for 30 consecutive business days. The second letter is a notification of non-compliance with Nasdaq's minimum stockholders' equity requirement, as the company's stockholders' equity is below $2.5 million. NewGenIvf has 180 calendar days to regain compliance with the minimum bid price requirement and 45 calendar days to submit a plan to regain compliance with the minimum stockholders' equity requirement.
May 28, 2024 | 12:34 pm
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NewGenIvf has received two non-compliance letters from Nasdaq, one for failing to meet the minimum bid price requirement and another for failing to meet the minimum stockholders' equity requirement. The company has 180 days to regain compliance with the bid price and 45 days to submit a plan for equity compliance.
Receiving non-compliance letters from Nasdaq is a significant negative event for NewGenIvf. The company must address these issues within the given timeframes to avoid potential delisting, which could negatively impact investor confidence and the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100