- Nasdaq requires listed securities to maintain a minimum bid price of US$1.00 per share
- Neovasc has until May 23, 2022, to regain compliance with the Nasdaq minimum bid requirement
- In the event Neovasc does not regain compliance by May 23, 2022, the company may face delisting
- The company’s business operations are not affected by the receipt of the Notification Letter, nor does it impact Neovasc’s listing on the TSE
- Neovasc is a specialty medical device company
- Neovasc (NVCN) is up 4.49 per cent on the day, trading at C$0.93 per share at 1:40 pm EST
Earlier this year, Neovasc (NVCN) received notification from Nasdaq that it was not in compliance with its minimum bid price requirement.
Nasdaq requires listed securities to maintain a minimum bid price of US$1.00 per share, and that failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days.
Neovasc has been provided an additional 180 calendar days, or until May 23, 2022, to regain compliance with Nasdaq Listing Rule 5550(a)(2).
To regain compliance, the company’s common shares must have a closing bid price of at least US $1.00 for a minimum of 10 consecutive business days. Failure to regain compliance by May 23, 2022, may result in the company being delisted.
Neovasc is a specialty medical device company that develops, manufactures and markets products for the cardiovascular marketplace.
Neovasc (NVCN) is up 4.49 per cent on the day, trading at C$0.93 per share at 1:40 pm EST.