Mannatech Says It Received Written Notification From Nasdaq Listing Qualifications Department About Non-Compliance Of Listing Rule
Portfolio Pulse from Benzinga Newsdesk
Mannatech received a notification from Nasdaq about non-compliance with a listing rule. The company's stock will continue trading under the symbol MTEX. Mannatech has until February 15, 2025, to comply by achieving stockholders' equity of at least $10 million.
August 22, 2024 | 8:53 pm
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Mannatech has been notified by Nasdaq for non-compliance with listing rules. The stock remains listed, and the company has until February 15, 2025, to meet the required stockholders' equity of $10 million.
The notification from Nasdaq indicates a regulatory issue, but it does not have an immediate effect on the stock's trading status. The company has a significant period to address the compliance issue, which mitigates immediate negative impact. However, the need to increase stockholders' equity to $10 million is crucial for long-term compliance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100